Houston Multifamily Investment
For Sale
$750,000
801 & 803 66th St, Houston, TX 77011
Fully occupied 8-plex in Houston's East End.
Property Size4,368 SF
Price / SF$171.70
Days on Market140
Property Features for 801 & 803 66th St
General Information
Standard status
Active
Size
4,368 SF
Property subtype
Multi-Family
Amenities
Yes
1
Appraiser
5000
4368
Building Details
Building Size
4,368 SF
Year Built
1946
Stories
2
Listing Agency:
eXp Realty, LLC
(281) 444-5140
Listed By:
Donna Hines
(713) 824-2618
Source:
Garygreene
Added: May 21
Changed: Oct 6
Last Checked: Oct 5 at 3:34PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Located in Houston's Greater East End, this fully occupied 8-plex at 801-803 66th St offers a stabilized multifamily cash flow. The property has an actual NOI of $57,741. High-ticket capital expenditures have been addressed, including a recent roof, replaced water main lines, and updated attic insulation. The property is located in the urban infill pocket of Magnolia Park, providing residents with access to Downtown Houston, the commercial corridors of EaDo, the University of Houston, and the Port of Houston. This property offers immediate, reliable income and long-term land value appreciation.
Key Highlights
- High cash flow with an actual NOI of $57,741
- Fully occupied 8‑plex in Houston's Greater East End
- Located inside the Loop, offering a low‑risk investment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,486
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$989,720
$989.7K
Cap Rate 7%
$706,943
$706.9K
Cap Rate 9%
$549,844
$549.8K
Market Conditions
NOI Build-Up for 4,368 SF
Gross rent
$95.9K $21.96/SF
− Vacancy
−$5.9K −$1.36/SF
EGI
$90.0K $20.60/SF
− OpEx
−$40.5K −$9.27/SF
NOI
$49.5K $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%
$989,720
Cap Rate 7%
$706,943
Cap Rate 9%
$549,844
Alternative Uses
Best Use
Apartment 5plus
$706.9K
$618.6K – $824.8K
NOI $49,486 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$982.8K – $1.31M
NOI $78,624 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
971
Businesses Nearby
Explore this area
Business Placement
Demographics for 77011, TX
16,841
Population
7,366
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
59%
High-School Grad
3.4 sq mi
ZIP Area
4,953
Density / Sq Mi
$49,163
Median Household Income
$36,517
Median Earnings
$1,063
Median Rent
$187,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Fully occupied 8-plex in Houston's East End.
Where is this apartment building located?
The property is located at 801 & 803 66th St Houston, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: High cash flow with an actual NOI of $57,741; Fully occupied 8‑plex in Houston's Greater East End; Located inside the Loop, offering a low‑risk investment
