Fully Leased Triplex For
For Sale
$349,900
6905 Palestine Street, Houston, TX 77020
Triplex with over $36k annual revenue, fully leased.
Property Size2,764 SF
Days on Market201
Property Features for 6905 Palestine Street
General Information
Standard status
Active
Size
2,764 SF
Property subtype
Triplex
Site & Location
Neighborhood
Denver Harbor / Port Houston
Building Details
Building Size
2,764 SF
Year Built
1936
Stories
1
Listing Agency:
Brookhaven Realty
Listed By:
Josh Jenkins
(979) 575-7559
Source:
Renesorola.kw
Added: Apr 9
Changed: Oct 26
Last Checked: Oct 24 at 1:45PM
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 Brookhaven Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a fully leased triplex generating over $36,000 in annual revenue. Unit A features two bedrooms and one bathroom and is leased at $1200 per month. Unit B offers two bedrooms and two bathrooms and is leased at $1140 per month. Unit C includes one bedroom, one bathroom, and a private patio, and is leased at $695 per month. Each unit is equipped with its own washer and dryer. The property has a bike score of 78, indicating it is very bikeable, and a walk score of 79, indicating it is very walkable. The transit score is 50, indicating good transit options.
Key Highlights
- Fully leased triplex generating over $36k in annual revenue.
- All units include in‑unit washer and dryer.
- Unit A: 2‑bed, 1‑bath, leased at $1200/month.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,314
Cap Rate
8.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$626,280
$626.3K
Cap Rate 7%
$447,343
$447.3K
Cap Rate 9%
$347,933
$347.9K
Market Conditions
NOI Build-Up for 2,764 SF
Gross rent
$60.7K $21.96/SF
− Vacancy
−$3.8K −$1.36/SF
EGI
$56.9K $20.60/SF
− OpEx
−$25.6K −$9.27/SF
NOI
$31.3K $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%
$626,280
Cap Rate 7%
$447,343
Cap Rate 9%
$347,933
Alternative Uses
Best Use
Multifamily LT 5
$517.2K
$452.5K – $603.4K
NOI $36,202 @ 7.0% cap · market cap 10.35%
Second Best
Apartment 5plus
$447.3K
$391.4K – $521.9K
NOI $31,314 @ 7.0% cap · market cap 8.95%
Theoretical Best
Office A
$710.7K
$621.9K – $829.2K
NOI $49,752 @ 7.0% cap · market cap 14.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 77020, TX
24,846
Population
10,054
Households
2.5
Avg Household Size
35
Median Age
13%
College-Educated
65%
High-School Grad
7.8 sq mi
ZIP Area
3,185
Density / Sq Mi
$49,481
Median Household Income
$32,573
Median Earnings
$942
Median Rent
$133,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Triplex with over $36k annual revenue, fully leased.
Where is this triplex located?
The property is located at 6905 Palestine Street Houston, TX.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Fully leased triplex generating over $36k in annual revenue.; All units include in‑unit washer and dryer.; Unit A: 2‑bed, 1‑bath, leased at $1200/month.
