Multifamily Property Near Downtown
For Sale
$485,000
6501 Stratton Street, Houston, TX 77023
Multifamily property near downtown Houston, ideal for homeowners or investors.
Property Size2,750 SF
Days on Market262
Property Features for 6501 Stratton Street
General Information
Standard status
Active
Size
2,750 SF
Property subtype
Duplex
Site & Location
Neighborhood
Gulfgate Riverview / Pine Valley
Amenities
Central
Electric
Gas
Central Air
Dishwasher
Disposal
Microwave
Refrigerator
Composition
Building Details
Building Size
2,750 SF
Year Built
2019
Stories
2
Listing Agency:
KW Commercial Texas
Listed By:
Patricia Brand · License #640952
(832) 613-7860
Source:
Kw
Added: Feb 6
Changed: Oct 25
Last Checked: Oct 24 at 9:42PM
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 KW Commercial Texas
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Investment Insights
Based on property information with market context.
This multifamily property is suitable for use as a primary residence with supplemental income or as an investment property. Each unit features an open concept kitchen, three bedrooms, and 2.5 baths. Unit A includes a detached garage. The property is located close to downtown and offers proximity to the University of Houston and Cullinan Park. Interior features include high ceilings, Craftsman-style trim, and ample storage space throughout. The energy-efficient home includes covered front and rear patios and an open floor plan. The kitchens are equipped with quartz countertops, Shaker-style cabinets, stainless steel appliances, stone tile backsplash, and a walk-in pantry. The second-floor master suite features a quartz-topped vanity and a large walk-in tile shower. All three bedrooms include walk-in closets.
Key Highlights
- Income‑generating multifamily property, ideal for owner‑occupancy or investment.
- Each unit features 3 bedrooms and 2.5 baths with an open concept kitchen.
- Desirable quartz countertops, Shaker‑style cabinets, stainless steel appliances, and walk‑in closets in all bedrooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,019
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,380
$720.4K
Cap Rate 7%
$514,557
$514.6K
Cap Rate 9%
$400,211
$400.2K
Market Conditions
NOI Build-Up for 2,750 SF
Gross rent
$54.5K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$51.5K $18.71/SF
− OpEx
−$15.4K −$5.61/SF
NOI
$36.0K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,380
Cap Rate 7%
$514,557
Cap Rate 9%
$400,211
Alternative Uses
Best Use
Multifamily LT 5
$514.6K
$450.2K – $600.3K
NOI $36,019 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$445.1K
$389.4K – $519.3K
NOI $31,155 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$707.1K
$618.8K – $825.0K
NOI $49,500 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
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Business Placement
Demographics for 77023, TX
26,780
Population
11,850
Households
2.3
Avg Household Size
36
Median Age
24%
College-Educated
75%
High-School Grad
5.5 sq mi
ZIP Area
4,869
Density / Sq Mi
$50,018
Median Household Income
$35,730
Median Earnings
$1,079
Median Rent
$279,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Multifamily property near downtown Houston, ideal for homeowners or investors.
Where is this duplex located?
The property is located at 6501 Stratton Street Houston, TX.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Income‑generating multifamily property, ideal for owner‑occupancy or investment.; Each unit features 3 bedrooms and 2.5 baths with an open concept kitchen.; Desirable quartz countertops, Shaker‑style cabinets, stainless steel appliances, and walk‑in closets in all bedrooms.
