Multifamily Investment Opportunity in
7938 KERR ST, Houston, TX 77029
For Sale
Contact for pricing
Multifamily property in Houston's growing submarket near Port Houston.
Property Size1,825 SF
Lot Size0.11 Acres
Price / SF$246.03
Days on Market185
Property Features for 7938 KERR ST
General Information
Standard status
Size
Class
Lot size
Property subtype
Occupancy
Site & Location
Neighborhood
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Listing Agency:
KW Commercial Houston Metropolitan
Listed By:
Otto Muniz · License TX #766823
(713) 614-5888
Source:
Crexi
Added: May 12
Changed: Aug 25
Last Checked: Nov 12 at 5:12AM
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 KW Commercial Houston Metropolitan
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Investment Insights
Based on property information with market context.
Located in Houston's rapidly growing 77029 submarket, 7938 Kerr St presents a multifamily investment opportunity. The property is strategically located near Port Houston, major industrial employment hubs, Downtown Houston, and key transportation corridors including I-10 and Loop 610. The property consists of 6 residential units situated on a 5,000 SF lot. The 1,825 square foot property offers investors the ability to capitalize on an already stabilized rental scenario. Positioned within an Opportunity Zone and surrounded by strong workforce housing demand drivers, the asset benefits from Houston’s continued population and employment growth while offering long-term appreciation potential in a high-demand infill location. Rents are up to market and the property is in very good condition.
Key Highlights
- Stabilized rental income with rents at market value.
- Strategically located near Port Houston, Downtown Houston, I‑10, and Loop 610.
- Positioned within an Opportunity Zone.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,676
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$413,520
$413.5K
Cap Rate 7%
$295,371
$295.4K
Cap Rate 9%
$229,733
$229.7K
Market Conditions
NOI Build-Up for 1,825 SF
Gross rent
$40.1K $21.96/SF
− Vacancy
−$2.5K −$1.36/SF
EGI
$37.6K $20.60/SF
− OpEx
−$16.9K −$9.27/SF
NOI
$20.7K $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%
$413,520
Cap Rate 7%
$295,371
Cap Rate 9%
$229,733
Alternative Uses
Best Use
Apartment 5plus
$295.4K
$258.5K – $344.6K
NOI $20,676 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$469.3K
$410.6K – $547.5K
NOI $32,850 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
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Business Placement
Demographics for 77029, TX
17,044
Population
6,386
Households
2.7
Avg Household Size
36
Median Age
9%
College-Educated
62%
High-School Grad
10.6 sq mi
ZIP Area
1,608
Density / Sq Mi
$49,601
Median Household Income
$32,614
Median Earnings
$1,129
Median Rent
$115,400
Median Home Value
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Market
Properties on Market for Apartment buildings in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property in Houston's growing submarket near Port Houston.
Where is this apartment building located?
The property is located at 7938 KERR ST Houston, TX.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Stabilized rental income with rents at market value.; Strategically located near Port Houston, Downtown Houston, I‑10, and Loop 610.; Positioned within an Opportunity Zone.
