Multifamily Property with Additional
For Sale
$299,500
812 Maltby St Unit 4, Houston, TX 77011
Remodeled units, framed expansion area, and proximity to major Houston destinations support a flexible multifamily configuration.
Property Size2,208 SF
Price / SF$135.64
Days on Market87
Property Features for 812 Maltby St Unit 4
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
gutted to the studs
Additional Details
Highway Access
Yes
Unit Mix
1 x studio, 2 x 1BR/1BA, 2 x 2BR/1BA, 1 x 4BR/2BA
Building Details
Year Built
1930
Buildings
2
Listing Agency:
Tarantino Properties, Inc.
Listed By:
Meghan Allen Holliday
(713) 826-8309
Source:
Thebandpteam
Added: Jul 20
Changed: Oct 10
Last Checked: Oct 12 at 9:13PM
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 Tarantino Properties, Inc.
Investment Insights
Based on property information with market context.
This multifamily property includes front and rear buildings with a combination of remodeled, partially remodeled, and unfinished areas. Remodeled units are ready for leasing, while two additional potential units have already been framed. Certain rear-building units were taken to the studs and include electrical and plumbing, and the upstairs studio requires further completion work. Fresh interior and exterior paint has been completed.
The property is in East Houston, minutes from EaDo, Downtown Houston, the University of Houston, I-45, US-59, and I-10. Built in 1930, the property contains 2,208 SF and offers a multifamily layout with existing improvements and areas for additional completion.
The property is in East Houston, minutes from EaDo, Downtown Houston, the University of Houston, I-45, US-59, and I-10. Built in 1930, the property contains 2,208 SF and offers a multifamily layout with existing improvements and areas for additional completion.
Key Highlights
- 2,208 SF multifamily property built in 1930
- Front‑building units have been remodeled and are ready to lease
- Two additional potential units are already framed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,015
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,300
$500.3K
Cap Rate 7%
$357,357
$357.4K
Cap Rate 9%
$277,944
$277.9K
Market Conditions
NOI Build-Up for 2,208 SF
Gross rent
$48.5K $21.96/SF
− Vacancy
−$3.0K −$1.36/SF
EGI
$45.5K $20.60/SF
− OpEx
−$20.5K −$9.27/SF
NOI
$25.0K $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%
$500,300
Cap Rate 7%
$357,357
Cap Rate 9%
$277,944
Alternative Uses
Best Use
Multifamily LT 5
$413.1K
$361.5K – $482.0K
NOI $28,920 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$357.4K
$312.7K – $416.9K
NOI $25,015 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$567.8K
$496.8K – $662.4K
NOI $39,744 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,065
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Remodeled units, framed expansion area, and proximity to major Houston destinations support a flexible multifamily configuration.
Where is this multifamily property located?
The property is located at 812 Maltby St Unit 4 Houston, TX.
What is the asking price?
The asking price for this property is $299,500.
What are key features of this property?
This property features: 2,208 SF multifamily property built in 1930; Front‑building units have been remodeled and are ready to lease; Two additional potential units are already framed
