Three-Unit Multifamily
New
For Sale
$239,000
6822 Weston St, Houston, TX 77021
Three rental residences offer a compact configuration near downtown Houston, the Medical Center, and major freeways.
Property Size1,852 SF
Lot Size0.11 Acres
Price / SF$129.05
Days on Market3
Property Features for 6822 Weston St
General Information
Standard status
Active
Size
1,852 SF
Lot size
0.11 Acres
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1955
Listing Agency:
La Palma Realty
Listed By:
Christina Tantoco
(713) 701-7545
Source:
Thebandpteam
Added: Sep 18
Last Checked: Sep 19 at 10:47AM
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 La Palma Realty
Investment Insights
Based on property information with market context.
This triplex contains three rental units on a 5,000-square-foot lot, with 1,852 square feet of total living space. Each residence includes two bedrooms and one bathroom within approximately 617 square feet. The property was built in 1955 and provides a straightforward three-unit layout for a multifamily buyer.
6822 Weston St is positioned near downtown Houston, the Medical Center, and major freeways, with dining and entertainment also nearby. The location supports access to several established Houston destinations while retaining a residential setting.
6822 Weston St is positioned near downtown Houston, the Medical Center, and major freeways, with dining and entertainment also nearby. The location supports access to several established Houston destinations while retaining a residential setting.
Key Highlights
- Three‑unit multifamily property with 1,852 square feet of total living space
- Each unit includes 2 bedrooms, 1 bathroom, and approximately 617 square feet
- Situated on a 5,000‑square‑foot lot
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
$20,982
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
8.78%
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%
$419,640
$419.6K
Cap Rate 7%
$299,743
$299.7K
Cap Rate 9%
$233,133
$233.1K
Market Conditions
NOI Build-Up for 1,852 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
$40.7K $21.96/SF
− Vacancy
−$2.5K −$1.36/SF
EGI
$38.1K $20.60/SF
− OpEx
−$17.2K −$9.27/SF
NOI
$21.0K $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%
$419,640
Cap Rate 7%
$299,743
Cap Rate 9%
$233,133
Alternative Uses
Best Use
Multifamily LT 5
$346.5K
$303.2K – $404.3K
NOI $24,257 @ 7.0% cap · market cap 10.15%
Second Best
Apartment 5plus
$299.7K
$262.3K – $349.7K
NOI $20,982 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$476.2K
$416.7K – $555.6K
NOI $33,336 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
512
Businesses Nearby
Explore this area
Business Placement
Demographics for 77021, TX
28,055
Population
12,819
Households
2.2
Avg Household Size
36
Median Age
34%
College-Educated
87%
High-School Grad
6.1 sq mi
ZIP Area
4,599
Density / Sq Mi
$45,034
Median Household Income
$38,041
Median Earnings
$1,193
Median Rent
$203,900
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three rental residences offer a compact configuration near downtown Houston, the Medical Center, and major freeways.
Where is this triplex located?
The property is located at 6822 Weston St Houston, TX.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 1,852 square feet of total living space; Each unit includes 2 bedrooms, 1 bathroom, and approximately 617 square feet; Situated on a 5,000‑square‑foot lot
