Houston Quadruplex Near
904 Panama Street Houston, TX 77009
904 Panama Street, Houston, TX, 77009
$499,000
For Sale
$499,000
Quadruplex with easy access to schools, supermarkets, and restaurants.
Property Size2,228 SF
Price / SF$223.97
Days on Market623
Property Features for 904 Panama Street
General Information
- Standard status
- Active
- Size
- 2,228 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1926
Listing Agency
ASIN Realty
(832) 642-2897
Listed by
Juan Salcedo · License #0658768
(832) 642-2897
Source
Exitrealty
Added: Nov 2, 2024 Checked: Jul 17 at 4:08 am
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 ASIN Realty
Investment Insights
Based on property information with market context.
This quadruplex features four bedrooms and four full bathrooms. Its location provides convenient access and walking distance to schools, supermarkets, restaurants, and parks. Some units are currently occupied. The largest unit is a two-story unit; the first floor is currently used as a storage room with the option to build another bedroom and bathroom. The second floor has two rooms with a bedroom, bathroom, and kitchen. The left unit, which includes a bedroom and bathroom, is currently vacant. The right unit, which also includes a bedroom and bathroom, is currently occupied. The property size is 2228 square feet.
Key Highlights
- Quadruplex in prime Downtown Houston location.
- All units feature four bedrooms and four full bathrooms.
- Walking distance to schools, supermarkets, restaurants, and parks.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.1k | $19.80 |
| − Vacancy | −$2.4k | −$1.09 |
| EGI | $41.7k | $18.71 |
| − OpEx | −$12.5k | −$5.61 |
| NOI | $29.2k | $13.10 |
2,228 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$416.9K
$364.8K – $486.4K
NOI $29,182 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$360.6K
$315.5K – $420.7K
NOI $25,241 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$572.9K
$501.3K – $668.4K
NOI $40,104 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Quadruplex with easy access to schools, supermarkets, and restaurants.
Where is this quadplex located?
The property is located at 904 Panama Street Houston, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Quadruplex in prime Downtown Houston location.; All units feature four bedrooms and four full bathrooms.; Walking distance to schools, supermarkets, restaurants, and parks.
