6-Unit Apartment
For Sale
$449,000
7938 Kerr Street # 6, Houston, TX 77029
Apartment property with separately metered electric and gas service in Houston near major commuter routes.
Property Size1,825 SF
Days on Market89
Property Features for 7938 Kerr Street # 6
General Information
Standard status
Active
Size
1,825 SF
Property subtype
Multi Family,5 Plus
Site & Location
Neighborhood
Pleasantville Area
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA, 4 x Studio
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$2,377
Building Details
Building Size
1,825 SF
Year Built
1940
Listing Agency:
Keller Williams Realty Metropolitan
Listed By:
Otto Muniz · License #766823
(713) 614-5888
Source:
Nancyalmodovar
Added: Jul 30
Changed: Oct 25
Last Checked: Oct 25 at 12:53AM
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 Keller Williams Realty Metropolitan
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This six-unit apartment building, constructed in 1940, offers a mix of two-bedroom, one-bath and one-bedroom, one-bath units along with four studio units. Electric and gas service are separately metered, while water, gas, and electricity are identified among the property utilities. City garbage collection is also provided.
The property is located in Houston with access to I-10, Loop 610, and other major commuter routes. Downtown Houston and the Port of Houston are within minutes, with shopping centers, restaurants, schools, and daily necessities nearby. The surrounding area also includes major industrial and employment hubs. The property is outside a flood zone.
The property is located in Houston with access to I-10, Loop 610, and other major commuter routes. Downtown Houston and the Port of Houston are within minutes, with shopping centers, restaurants, schools, and daily necessities nearby. The surrounding area also includes major industrial and employment hubs. The property is outside a flood zone.
Key Highlights
- 6‑unit apartment building constructed in 1940
- Unit mix includes 2 bed x 1 bath, 1 bed x 1 bath, and 4 Studios
- Electric and gas are separately metered
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
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
6
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment property with separately metered electric and gas service in Houston near major commuter routes.
Where is this apartment building located?
The property is located at 7938 Kerr Street # 6 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: 6‑unit apartment building constructed in 1940; Unit mix includes 2 bed x 1 bath, 1 bed x 1 bath, and 4 Studios; Electric and gas are separately metered
