Multifamily Property With Metal
For Sale
$1,800,000
5-511 Gulf Bank Rd, Houston, TX 77037
Multiple detached dwellings and a metal shop provide a varied existing property configuration.
Property Size5,800 SF
Lot Size4.51 Acres
Price / SF$310.34
Days on Market484
Property Features for 5-511 Gulf Bank Rd
General Information
Standard status
Active
Size
5,800 SF
Lot size
4.51 Acres
Property subtype
Residential Income
Site & Location
Neighborhood
Northside/Northline
Road Access
Yes
Additional Details
Land Use
commercial, multi-family
Taxes and HOA fees
Annual Taxes
$9,746
Amenities
metal shop
Listing Agency:
CB&A, Realtors
(832) 678-4770
Listed By:
Rafael Perez · License #0573024
(832) 642-7246
Source:
Exprealty
Added: Jun 30, 2025
Changed: Oct 25
Last Checked: Oct 24 at 9:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CB&A, Realtors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property includes multiple detached dwellings along with a metal shop. The existing improvements create a varied configuration across two spacious lots, with current tenants already associated with the property. The site encompasses 196,590 square feet, offering substantial land area for the existing residential improvements and future development planning. The metal shop adds a separate nonresidential improvement to the property, while the detached dwelling layout distinguishes the asset from a conventional single-building multifamily property. Located on Gulf Bank in Houston, the property combines residential income components with additional site improvements on a sizable tract.
Key Highlights
- Multiple detached dwellings on the property
- Metal shop included among the existing improvements
- Two lots totaling 196,590 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,709
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,314,180
$1.3M
Cap Rate 7%
$938,700
$938.7K
Cap Rate 9%
$730,100
$730.1K
Market Conditions
NOI Build-Up for 5,800 SF
Gross rent
$127.4K $21.96/SF
− Vacancy
−$7.9K −$1.36/SF
EGI
$119.5K $20.60/SF
− OpEx
−$53.8K −$9.27/SF
NOI
$65.7K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,314,180
Cap Rate 7%
$938,700
Cap Rate 9%
$730,100
Alternative Uses
Best Use
Apartment 5plus
$938.7K
$821.4K – $1.10M
NOI $65,709 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,400 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
Explore this area
Business Placement
Demographics for 77037, TX
19,569
Population
5,312
Households
3.7
Avg Household Size
31
Median Age
7%
College-Educated
51%
High-School Grad
6.2 sq mi
ZIP Area
3,156
Density / Sq Mi
$46,176
Median Household Income
$30,779
Median Earnings
$1,056
Median Rent
$160,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multiple detached dwellings and a metal shop provide a varied existing property configuration.
Where is this multifamily property located?
The property is located at 5-511 Gulf Bank Rd Houston, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Multiple detached dwellings on the property; Metal shop included among the existing improvements; Two lots totaling 196,590 square feet
