Houston Multifamily Investment
For Sale
$1,225,000
7120 Cole Creek Dr, Houston, TX 77092
Well-maintained 8-unit property near Hwy 290 and Loop 610.
Property Size8,244 SF
Lot Size0.77 Acres
Days on Market316
Property Features for 7120 Cole Creek Dr
General Information
Standard status
Active
Size
8,244 SF
Lot size
0.77 Acres
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$9,706
Building Details
Building Size
8,244 SF
Year Built
1984
Stories
2
Units
8
Listing Agency:
Compass RE Texas, LLC
Listed By:
Lance Hightower · License #568141
(832) 722-7442
Source:
Elliman
Added: Nov 27, 2025
Changed: Oct 5
Last Checked: Oct 7 at 1:10PM
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 Compass RE Texas, LLC
Investment Insights
Based on property information with market context.
Cole Creek Estates presents an 8-unit multifamily investment opportunity at 7120 Cole Creek Dr, Houston, TX 77092. The property is located in a prime location near Hwy 290 and Loop 610 in Houston. Each unit includes a fireplace. The property is in excellent condition with consistent care. The property benefits from a history of stable, long-term tenants, delivering steady income with minimal turnover. Situated in a high-growth corridor of Houston, this asset caters to a diverse demographic, with its close proximity to popular amenities ensuring ongoing demand. This property is ideal for both seasoned investors and first-time buyers in multifamily real estate.
Key Highlights
- Prime location near Hwy 290 and Loop 610 in Houston.
- Stable, long‑term tenants providing steady income with minimal turnover.
- Well‑maintained property in excellent condition.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,398
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,867,960
$1.9M
Cap Rate 7%
$1,334,257
$1.3M
Cap Rate 9%
$1,037,756
$1.0M
Market Conditions
NOI Build-Up for 8,244 SF
Gross rent
$181.0K $21.96/SF
− Vacancy
−$11.2K −$1.36/SF
EGI
$169.8K $20.60/SF
− OpEx
−$76.4K −$9.27/SF
NOI
$93.4K $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%
$1,867,960
Cap Rate 7%
$1,334,257
Cap Rate 9%
$1,037,756
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.17M – $1.56M
NOI $93,398 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.85M – $2.47M
NOI $148,392 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,644
Businesses Nearby
Explore this area
Business Placement
Demographics for 77092, TX
34,903
Population
16,158
Households
2.2
Avg Household Size
34
Median Age
27%
College-Educated
75%
High-School Grad
8.1 sq mi
ZIP Area
4,309
Density / Sq Mi
$56,741
Median Household Income
$34,895
Median Earnings
$1,228
Median Rent
$222,800
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 8-unit property near Hwy 290 and Loop 610.
Where is this apartment building located?
The property is located at 7120 Cole Creek Dr Houston, TX.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Prime location near Hwy 290 and Loop 610 in Houston.; Stable, long‑term tenants providing steady income with minimal turnover.; Well‑maintained property in excellent condition.
