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    Renovated Multifamily Asset in Alvin Title is generated by Realmo AI

    601 E Coombs St, Alvin, TX 77511

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    20-unit multifamily property in Alvin, TX, renovated in 2019.

    Type:Multifamily
    Property size:
    17,408 SF
    Lot size:
    0.72 Acres
    Price / SF:
    $94/SF
    Added:
    May 15, 2026
    Days on Market:
    13
    Last Refresh:
    May 16 at 8:49 pm

    Property Features for 601 E Coombs St

    General Information

    Standard status
    Active
    Size
    17,408 SF
    Lot size
    0.72 Acres
    Property subtype
    Multifamily

    Building Details

    Year Built
    1976

    We can help!

    Listing Contact
    Ryan DeGennaro
    Ryan DeGennaro

    Listing agent Ryan DeGennaro License #TX 9004042

    Listing office Partners

    Listing date May 15, 2026

    Source Crexi

    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 Partners

    HighLights

    • Fully renovated in 2019, all 20 units are 2 bed/1 bath and approximately 850 SF.
    • Located in Alvin, TX, a hub for Gulf Coast commerce with strong rental demand.
    • Extensive capital improvements completed, including a new roof, exterior work, fence replacement, and parking lot resurfacing.
    • Strong physical condition with no major capital needs.
    • Clear path to improved performance without large additional capital investment.
    • Proximity to Galveston, the Port of Houston, and many oil/chemical companies.

    Overview

    The Bayou Drive Apartments, located in Alvin, TX, approximately 30 miles south of downtown Houston, is a multifamily asset featuring 20 units. Constructed in 1976 and extensively renovated in 2019, the property is situated on approximately 0.72 acres. Each unit offers two bedrooms and one bathroom within an approximate area of 850 square feet. The property has a total size of 17408 square feet. Alvin benefits from strong rental demand due to its location as a hub for Gulf Coast commerce, including Galveston, the Port of Houston, and numerous oil and chemical companies. A comprehensive capital improvement program has been implemented, including a new roof, exterior enhancements, fence replacement, and parking lot resurfacing, along with complete renovations of all 20 units. The property is in strong physical condition, presenting a seamless addition to any investor's portfolio with no major capital needs anticipated. The location ensures a stable tenant base, offering a well-maintained foundation with a clear path to meaningful upside.
    Location Intelligence

    Current Use by Public Records

    Crumley Auto Glass Auto Repair Shop Deception Ink Clothing Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Alvin
    County
    Brazoria
    State
    Texas
    Longitude
    -95.2375566
    Latitude
    29.4180784

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    FAQs

    What type of property is this?
    Apartment building - 20-unit multifamily property in Alvin, TX, renovated in 2019.
    Where is this apartment building located?
    The property is located at 601 E Coombs St Alvin, TX.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: Fully renovated in 2019, all 20 units are 2 bed/1 bath and approximately 850 SF.; Located in Alvin, TX, a hub for Gulf Coast commerce with strong rental demand.; Extensive capital improvements completed, including a new roof, exterior work, fence replacement, and parking lot resurfacing.
    (713) 316-7059 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ryan DeGennaro
    Ryan DeGennaro
    Real Estate License ID: TX 9004042
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    601 E Coombs St, Alvin, TX 77511
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