Renovated 6-Unit Apartment
For Sale
$799,900
6-4107 Lark Ln, Houston, TX 77025
Updated multifamily property with refreshed interiors, upgraded systems, and proximity to major Houston employment centers.
Property Size4,680 SF
Price / SF$170.92
Days on Market47
Property Features for 6-4107 Lark Ln
General Information
Standard status
Active
Size
4,680 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$13,112
Listing Agency:
Joseph Walter Realty, LLC
(888) 227-1009
Listed By:
Edward McClintick · License #0303307
(888) 227-1009
Source:
Exprealty
Added: Jul 8
Changed: Aug 22
Last Checked: Aug 22 at 12:27PM
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 Joseph Walter Realty, LLC
Investment Insights
Based on property information with market context.
This 6-unit apartment building offers 4,680 square feet of renovated residential space. Improvements include new plumbing, hardwood flooring, updated cabinetry, new appliances, fresh exterior paint, and upgraded finishes throughout. The work has already been completed, giving the property a modernized physical profile for continued multifamily use.
Located at 4107 Lark Ln in Houston, the property is positioned minutes from the Texas Medical Center, NRG Stadium, and major Houston employment hubs. Its six-unit configuration and completed renovation program provide a straightforward multifamily asset with updated building components and interiors.
Located at 4107 Lark Ln in Houston, the property is positioned minutes from the Texas Medical Center, NRG Stadium, and major Houston employment hubs. Its six-unit configuration and completed renovation program provide a straightforward multifamily asset with updated building components and interiors.
Key Highlights
- 6‑unit apartment property with 4,680 square feet
- Renovated with new plumbing, hardwood flooring, cabinets, appliances, and finishes
- Fresh exterior paint and updated interior materials
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,020
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,060,400
$1.1M
Cap Rate 7%
$757,429
$757.4K
Cap Rate 9%
$589,111
$589.1K
Market Conditions
NOI Build-Up for 4,680 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$102.8K $21.96/SF
− Vacancy
−$6.4K −$1.36/SF
EGI
$96.4K $20.60/SF
− OpEx
−$43.4K −$9.27/SF
NOI
$53.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,060,400
Cap Rate 7%
$757,429
Cap Rate 9%
$589,111
Alternative Uses
Best Use
Apartment 5plus
$757.4K
$662.8K – $883.7K
NOI $53,020 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,240 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 77025, TX
28,510
Population
15,752
Households
1.8
Avg Household Size
38
Median Age
71%
College-Educated
95%
High-School Grad
4.5 sq mi
ZIP Area
6,336
Density / Sq Mi
$78,076
Median Household Income
$61,238
Median Earnings
$1,484
Median Rent
$521,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Updated multifamily property with refreshed interiors, upgraded systems, and proximity to major Houston employment centers.
Where is this apartment building located?
The property is located at 6-4107 Lark Ln Houston, TX.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 6‑unit apartment property with 4,680 square feet; Renovated with new plumbing, hardwood flooring, cabinets, appliances, and finishes; Fresh exterior paint and updated interior materials
