8-Unit Apartment
For Sale
$780,500
8-1306 3rd St, Galena Park, TX 77547
Fully occupied multifamily property with established rental history and access to major highways, employment centers, shopping, and surrounding Houston areas.
Property Size5,292 SF
Price / SF$147.49
Days on Market100
Property Features for 8-1306 3rd St
General Information
Standard status
Active
Size
5,292 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$11,824
Listing Agency:
Can-2 Realty
(281) 250-1905
Listed By:
Isairis Lozano · License #0622334
(832) 794-6923
Source:
Exprealty
Added: Jul 9
Changed: Oct 3
Last Checked: Oct 16 at 10:55AM
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 Can-2 Realty
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.
Located at 8-1306 3rd St in Galena Park, Texas, this multifamily property contains 8 apartment units within 5,292 square feet. The building is reported to be 100% occupied and has an established rental history, providing a currently leased residential income asset.
The property offers access to major highways, employment centers, shopping, and surrounding Houston areas. Its occupied unit count and documented rental history provide a straightforward profile for buyers evaluating a multifamily acquisition.
The property offers access to major highways, employment centers, shopping, and surrounding Houston areas. Its occupied unit count and documented rental history provide a straightforward profile for buyers evaluating a multifamily acquisition.
Key Highlights
- 8 apartment units within 5,292 square feet
- 100% occupied at the time of listing
- Established rental history
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,086
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,720
$701.7K
Cap Rate 7%
$501,229
$501.2K
Cap Rate 9%
$389,844
$389.8K
Market Conditions
NOI Build-Up for 5,292 SF
Gross rent
$70.5K $13.32/SF
− Vacancy
−$6.7K −$1.27/SF
EGI
$63.8K $12.05/SF
− OpEx
−$28.7K −$5.42/SF
NOI
$35.1K $6.63/SF
Area
Harris County, TX
Vacancy
9.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,720
Cap Rate 7%
$501,229
Cap Rate 9%
$389,844
Alternative Uses
Best Use
Apartment 5plus
$501.2K
$438.6K – $584.8K
NOI $35,086 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.69M
NOI $101,149 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 77547, TX
9,627
Population
2,928
Households
3.3
Avg Household Size
31
Median Age
9%
College-Educated
68%
High-School Grad
3.9 sq mi
ZIP Area
2,468
Density / Sq Mi
$53,854
Median Household Income
$30,171
Median Earnings
$1,099
Median Rent
$109,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with established rental history and access to major highways, employment centers, shopping, and surrounding Houston areas.
Where is this apartment building located?
The property is located at 8-1306 3rd St Galena Park, TX.
What is the asking price?
The asking price for this property is $780,500.
What are key features of this property?
This property features: 8 apartment units within 5,292 square feet; 100% occupied at the time of listing; Established rental history
