Four-Unit Multifamily
New
For Sale
$870,000
7836 & 7840 Nashville St A-D, Houston, TX 77028
Modern residences feature open layouts, quartz finishes, efficient HVAC, and dedicated off-street parking.
Property Size2,664 SF
Price / SF$163.29
Days on Market2
Property Features for 7836 & 7840 Nashville St A-D
General Information
Standard status
Active
Size
2,664 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,574
Building Details
Building Size
2,664 SF
Year Built
2026
Stories
2
Units
4
Listed By:
Sonya Gaines
(713) 205-7665
Source:
Elliman
Added: Sep 9
Last Checked: Sep 9 at 3:09PM
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 Sonya Gaines
Investment Insights
Based on property information with market context.
This 4-unit multifamily property comprises a contiguous package across two adjacent parcels, with 5,328 total sqft of residential space. Built in 2026, the residences offer modern open-concept floor plans, quartz countertops, high ceilings, energy-efficient HVAC systems, and dedicated off-street parking. Active units available for lease include brand-new refrigerators, washers, and dryers; the remaining units provide full hookups.
The property is located at 7836 & 7840 Nashville St A-D in Houston, within the 77028 corridor. I-610 and US-59 provide access to Downtown Houston and the Texas Medical Center. The location has a Walk Score of 20, a Bike Score of 34, and a Transit Score of 25.
The property is located at 7836 & 7840 Nashville St A-D in Houston, within the 77028 corridor. I-610 and US-59 provide access to Downtown Houston and the Texas Medical Center. The location has a Walk Score of 20, a Bike Score of 34, and a Transit Score of 25.
Key Highlights
- 4‑unit multifamily package built in 2026
- 5,328 total sqft across two adjacent parcels
- Open‑concept residences with quartz countertops and high ceilings
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
$69,785
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
8.02%
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%
$1,395,700
$1.4M
Cap Rate 7%
$996,929
$996.9K
Cap Rate 9%
$775,389
$775.4K
Market Conditions
NOI Build-Up for 5,328 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
$105.5K $19.80/SF
− Vacancy
−$5.8K −$1.09/SF
EGI
$99.7K $18.71/SF
− OpEx
−$29.9K −$5.61/SF
NOI
$69.8K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,395,700
Cap Rate 7%
$996,929
Cap Rate 9%
$775,389
Alternative Uses
Best Use
Multifamily LT 5
$996.9K
$872.3K – $1.16M
NOI $69,785 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$862.3K
$754.5K – $1.01M
NOI $60,362 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,904 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
Explore this area
Business Placement
Demographics for 77028, TX
18,701
Population
7,102
Households
2.6
Avg Household Size
35
Median Age
8%
College-Educated
69%
High-School Grad
9.1 sq mi
ZIP Area
2,055
Density / Sq Mi
$36,244
Median Household Income
$28,099
Median Earnings
$1,115
Median Rent
$108,200
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?
Multifamily property - Modern residences feature open layouts, quartz finishes, efficient HVAC, and dedicated off-street parking.
Where is this multifamily property located?
The property is located at 7836 & 7840 Nashville St A-D Houston, TX.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: 4‑unit multifamily package built in 2026; 5,328 total sqft across two adjacent parcels; Open‑concept residences with quartz countertops and high ceilings
