Houston Multifamily Investment
For Sale
Contact for pricing
801 North 66th Street, Houston, TX 77011
Fully occupied 8-plex in Houston's East End.
Property Size4,368 SF
Price / SF$171.70
Days on Market107
Property Features for 801 North 66th Street
General Information
Standard status
Active
Size
4,368 SF
Class
C
Property subtype
Multifamily
Zoning
Commercial
Investment Type
Stabilized
Net Operating Income
$57,741
Building Details
Year Built
1946
Buildings
2
Units
8
Tenancy
Multi
Listing Agency:
Coldwell Banker Ultimate
Listed By:
Amanda Badawy · License #672908
(979) 236-7010
Source:
Crexi
Added: May 20
Changed: Aug 22
Last Checked: Sep 1 at 5:25AM
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 Coldwell Banker Ultimate
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,486
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 North 66th Street 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
