Turnkey Multifamily Complex in
For Sale
$700,000
7109 Avenue E 12, Houston, TX 77011
Fully occupied, cash-flowing 10-unit apartment complex in East Downtown Houston.
Property Size2,700 SF
Price / SF$259.26
Days on Market573
Property Features for 7109 Avenue E 12
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$7,502
Amenities
Yes
10
Appraiser
7500
Other
2700
Building Details
Building Size
2,700 SF
Year Built
1930
Stories
2
Listing Agency:
Nowlin Realty Group , LLC
(713) 461-6800
Listed By:
Bruce Inman · License #0488252
(210) 218-6467
Source:
Garygreene
Added: Mar 24, 2025
Changed: Oct 15
Last Checked: Oct 16 at 6:41AM
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 Nowlin Realty Group , LLC
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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 / Yr
$30,589
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
Check the figures for this property
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?
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 Avenue 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.
