11-Unit Courtyard Apartment
For Sale
$895,000
911 Michigan Street 8, Houston, TX 77587
Renovations include exterior work, roof improvements, and HVAC upgrades.
Property Size7,060 SF
Lot Size0.33 Acres
Price / SF$126.77
Days on Market11
Property Features for 911 Michigan Street 8
General Information
Standard status
Active
Size
7,060 SF
Lot size
0.33 Acres
Property subtype
Residential Income
Site & Location
Neighborhood
Hyde Park Civic Association
Highway Access
Yes
Additional Details
Multifamily Units
11
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$15,681
Amenities
true
2
3
Appraiser
14200
Garage
7060
Building Details
Building Size
7,060 SF
Year Built
1966
Stories
2
Listing Agency:
(832) 262-9488
Listed By:
Ken & Mayte Hayes
Source:
Klmrealtygroup
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 28 at 12:42PM
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 Ken & Mayte Hayes
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 11-unit apartment property contains 7,060 square feet and sits on a 0.33-acre corner lot. Its courtyard-style arrangement includes dedicated parking. Improvements noted at the property include exterior renovations, roof work, and HVAC upgrades. The building dates to 1966, and occupancy is described as stable.
At 911 Michigan Street in Houston, the property is identified as being near Downtown Houston and Hobby Airport, with access to SH-225 and I-45. The surrounding context also includes major employers, medical centers, and industrial corridors.
At 911 Michigan Street in Houston, the property is identified as being near Downtown Houston and Hobby Airport, with access to SH-225 and I-45. The surrounding context also includes major employers, medical centers, and industrial corridors.
Key Highlights
- 11 apartments in a 7,060‑square‑foot building
- 0.33‑acre corner parcel with a courtyard‑style layout
- Exterior renovations, roof improvements, and HVAC upgrades
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,984
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,599,680
$1.6M
Cap Rate 7%
$1,142,629
$1.1M
Cap Rate 9%
$888,711
$888.7K
Market Conditions
NOI Build-Up for 7,060 SF
Gross rent
$155.0K $21.96/SF
− Vacancy
−$9.6K −$1.36/SF
EGI
$145.4K $20.60/SF
− OpEx
−$65.4K −$9.27/SF
NOI
$80.0K $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%
$1,599,680
Cap Rate 7%
$1,142,629
Cap Rate 9%
$888,711
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.
How Realmo checks its estimates
Property Analytics
Lease Details
11
Residential units
Yes
Highway 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
Frequently Asked Questions
What type of property is this?
Apartment building - Renovations include exterior work, roof improvements, and HVAC upgrades.
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 apartments in a 7,060‑square‑foot building; 0.33‑acre corner parcel with a courtyard‑style layout; Exterior renovations, roof improvements, and HVAC upgrades
