11-Unit Renovated Apartment
For Sale
$895,000
911 Michigan Street # 8, Houston, TX 77587
Courtyard-style property with dedicated parking and upgraded roof and HVAC systems.
Property Size7,060 SF
Lot Size0.33 Acres
Days on Market14
Property Features for 911 Michigan Street # 8
General Information
Standard status
Active
Size
7,060 SF
Lot size
0.33 Acres
Property subtype
Multi Family,5 Plus
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
11
Building Details
Building Size
7,060 SF
Year Built
1966
Listing Agency:
Keller Williams Summit
(713) 893-1854
Listed By:
Florencio Villalpando · License #0488752
(713) 893-1854
Source:
Mpowerrealtygroup
Added: Jul 22
Changed: Jul 31
Last Checked: Aug 4 at 8:35AM
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 Keller Williams Summit
Investment Insights
Based on property information with market context.
This 11-unit apartment community was built in 1966 and has undergone extensive renovations, including major exterior work, roof improvements, and HVAC upgrades. The property features a courtyard-style layout, dedicated parking, and an income-producing configuration with stable occupancy and relatively low operating expenses. The community occupies a 0.33-acre corner lot in South Houston.
Located at 911 Michigan Street, the property is near Downtown Houston, Hobby Airport, SH-225, I-45, major employers, medical centers, and industrial corridors. Its location provides access to several established employment and transportation areas, while the existing improvements and apartment layout support continued residential operations.
Located at 911 Michigan Street, the property is near Downtown Houston, Hobby Airport, SH-225, I-45, major employers, medical centers, and industrial corridors. Its location provides access to several established employment and transportation areas, while the existing improvements and apartment layout support continued residential operations.
Key Highlights
- 11‑unit apartment community on a 0.33‑acre corner lot
- Major exterior renovations, roof improvements, and HVAC upgrades completed
- Courtyard‑style layout with dedicated parking
Financial Insights For Apartment 5plus
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 | $155.0k | $21.96 |
| − Vacancy | −$9.6k | −$1.36 |
| EGI | $145.4k | $20.60 |
| − OpEx | −$65.4k | −$9.27 |
| NOI | $80.0k | $11.33 |
7,060 SF · lease $21.96/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$999.8K – $1.33M
NOI $79,984 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,080 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
11
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,866
Businesses Nearby
Explore this area
Business Placement
Demographics for 77587, TX
16,179
Population
5,549
Households
2.9
Avg Household Size
32
Median Age
9%
College-Educated
60%
High-School Grad
3.1 sq mi
ZIP Area
5,219
Density / Sq Mi
$52,407
Median Household Income
$30,669
Median Earnings
$1,174
Median Rent
$177,000
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 - Courtyard-style property with dedicated parking and upgraded roof and HVAC systems.
Where is this apartment building located?
The property is located at 911 Michigan Street # 8 Houston, TX.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 11‑unit apartment community on a 0.33‑acre corner lot; Major exterior renovations, roof improvements, and HVAC upgrades completed; Courtyard‑style layout with dedicated parking
