Turnkey Multifamily Complex in
For Sale
$700,000
7109 Ave E 12, Houston, TX 77011
Fully occupied, cash-flowing 10-unit apartment complex in East Downtown Houston.
Property Size2,700 SF
Lot Size0.17 Acres
Days on Market171
Property Features for 7109 Ave E 12
General Information
Standard status
Active
Size
2,700 SF
Lot size
0.17 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,502
Building Details
Building Size
2,700 SF
Year Built
1930
Stories
2
Units
10
Listing Agency:
Beycome Brokerage Realty LLC
(804) 656-5007
Listed By:
Steven Koleno · License #396707
(804) 656-5007
Source:
Elliman
Added: Mar 11
Changed: Aug 27
Last Checked: Aug 26 at 10:24AM
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 Beycome Brokerage Realty LLC
Investment Insights
Based on property information with market context.
This is a 10-unit apartment complex located in the East Downtown Houston (EaDo) area. The property is fully occupied and cash flowing, generating $8,700 per month in rental income. All units are currently leased. The property is located in a neighborhood known for strong rental demand and low vacancy rates, presenting an investment opportunity for immediate cash flows. This stabilized multifamily property is situated in one of the city's dynamic markets.
Key Highlights
- Turnkey 10‑unit apartment complex.
- Fully occupied and cash flowing, generating $8,700 per month.
- Located in the high‑demand East Downtown Houston (EaDo) area.
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
$30,589
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
4.37%
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%
$611,780
$611.8K
Cap Rate 7%
$436,986
$437.0K
Cap Rate 9%
$339,878
$339.9K
Market Conditions
NOI Build-Up for 2,700 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
$59.3K $21.96/SF
− Vacancy
−$3.7K −$1.36/SF
EGI
$55.6K $20.60/SF
− OpEx
−$25.0K −$9.27/SF
NOI
$30.6K $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%
$611,780
Cap Rate 7%
$436,986
Cap Rate 9%
$339,878
Alternative Uses
Best Use
Apartment 5plus
$437.0K
$382.4K – $509.8K
NOI $30,589 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$694.3K
$607.5K – $810.0K
NOI $48,600 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
853
Businesses Nearby
Explore this area
Business Placement
Demographics for 77011, TX
16,841
Population
7,366
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
59%
High-School Grad
3.4 sq mi
ZIP Area
4,953
Density / Sq Mi
$49,163
Median Household Income
$36,517
Median Earnings
$1,063
Median Rent
$187,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied, cash-flowing 10-unit apartment complex in East Downtown Houston.
Where is this apartment building located?
The property is located at 7109 Ave E 12 Houston, TX.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Turnkey 10‑unit apartment complex.; Fully occupied and cash flowing, generating $8,700 per month.; Located in the high‑demand East Downtown Houston (EaDo) area.
