8-Unit Apartment
For Sale
$1,385,000
8-840 Cortlandt St, Houston, TX 77007
Historic designation, period interior details, and garage apartments distinguish this occupied multifamily property.
Property Size4,116 SF
Lot Size0.20 Acres
Price / SF$336.49
Days on Market22
Property Features for 8-840 Cortlandt St
General Information
Standard status
Active
Size
4,116 SF
Total Parking Spaces
8
Lot size
0.20 Acres
Property subtype
Residential Income
Units
Unit Mix
4 x 1BR, 2 x studio, 2 x 2BR
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$26,205
Listing Agency:
Realty Of America, LLC
(512) 788-9495
Listed By:
Eileen Smedley
(281) 450-7420
Source:
Exprealty
Added: Sep 22
Changed: Oct 13
Last Checked: Oct 13 at 2:23AM
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 Realty Of America, LLC
Investment Insights
Based on property information with market context.
At 840 Cortlandt St, this eight-unit apartment property includes a main building with four one-bedroom apartments and two studios, plus two two-bedroom apartments above the garage. The main building measures 4,116 square feet; the 1,296-square-foot garage apartments are additional. Hardwood floors and subway tile remain among the interior finishes, and the exterior has been freshly painted. The property carries historic, commercial, and multifamily designations and is occupied by long-term tenants.
The 8,580-square-foot lot has alley access and parking for eight vehicles. White Oak Dr, Harvard Elementary, Heights Mercantile, and a hike-and-bike trail are nearby. The property is more than 100 years old and has had the same owner for 50 years.
The 8,580-square-foot lot has alley access and parking for eight vehicles. White Oak Dr, Harvard Elementary, Heights Mercantile, and a hike-and-bike trail are nearby. The property is more than 100 years old and has had the same owner for 50 years.
Key Highlights
- Eight apartments: four one‑bedroom units, two studios, and two two‑bedroom garage apartments
- Main building is 4,116 square feet; garage apartments add 1,296 sq ft
- 8,580 sq ft lot with alley access and parking for eight vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,631
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$932,620
$932.6K
Cap Rate 7%
$666,157
$666.2K
Cap Rate 9%
$518,122
$518.1K
Market Conditions
NOI Build-Up for 4,116 SF
Gross rent
$90.4K $21.96/SF
− Vacancy
−$5.6K −$1.36/SF
EGI
$84.8K $20.60/SF
− OpEx
−$38.2K −$9.27/SF
NOI
$46.6K $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%
$932,620
Cap Rate 7%
$666,157
Cap Rate 9%
$518,122
Alternative Uses
Best Use
Apartment 5plus
$666.2K
$582.9K – $777.2K
NOI $46,631 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$926.1K – $1.23M
NOI $74,088 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,831
Businesses Nearby
Explore this area
Business Placement
Demographics for 77007, TX
42,908
Population
26,281
Households
1.6
Avg Household Size
34
Median Age
80%
College-Educated
99%
High-School Grad
7.5 sq mi
ZIP Area
5,721
Density / Sq Mi
$140,878
Median Household Income
$92,408
Median Earnings
$1,951
Median Rent
$501,300
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?
Apartment building - Historic designation, period interior details, and garage apartments distinguish this occupied multifamily property.
Where is this apartment building located?
The property is located at 8-840 Cortlandt St Houston, TX.
What is the asking price?
The asking price for this property is $1,385,000.
What are key features of this property?
This property features: Eight apartments: four one‑bedroom units, two studios, and two two‑bedroom garage apartments; Main building is 4,116 square feet; garage apartments add 1,296 sq ft; 8,580 sq ft lot with alley access and parking for eight vehicles
