Houston Multifamily Investment
For Sale
$1,200,000
9849 Mesa Drive, Houston, TX 77078
15-unit multifamily property in a desirable Houston location.
Property Size8,490 SF
Price / SF$141.34
Days on Market450
Property Features for 9849 Mesa Drive
General Information
Standard status
Active
Size
8,490 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$12,343
Amenities
Yes
1
2
Appraiser
19274
8490
Building Details
Building Size
8,490 SF
Year Built
1960
Stories
2
Listing Agency:
White House Global Properties
(281) 444-5140
Listed By:
Sydne Holloway
(832) 552-7284
Source:
Garygreene
Added: Jul 27, 2025
Changed: Oct 16
Last Checked: Oct 19 at 4:29AM
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 White House Global Properties
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Investment Insights
Based on property information with market context.
This is an investment opportunity featuring a 15-unit multifamily property. The property is located in a desirable area of Houston, surrounded by upcoming construction.
Key Highlights
- Investor special with 15 units
- Located in a highly desirable part of Houston
- Surrounded by up and coming construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,185
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,923,700
$1.9M
Cap Rate 7%
$1,374,071
$1.4M
Cap Rate 9%
$1,068,722
$1.1M
Market Conditions
NOI Build-Up for 8,490 SF
Gross rent
$186.4K $21.96/SF
− Vacancy
−$11.6K −$1.36/SF
EGI
$174.9K $20.60/SF
− OpEx
−$78.7K −$9.27/SF
NOI
$96.2K $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%
$1,923,700
Cap Rate 7%
$1,374,071
Cap Rate 9%
$1,068,722
Alternative Uses
Best Use
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $96,185 @ 7.0% cap · market cap 8.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,820 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Explore this area
Business Placement
Demographics for 77078, TX
14,855
Population
5,607
Households
2.6
Avg Household Size
33
Median Age
12%
College-Educated
73%
High-School Grad
10.3 sq mi
ZIP Area
1,442
Density / Sq Mi
$38,838
Median Household Income
$28,600
Median Earnings
$1,336
Median Rent
$151,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - 15-unit multifamily property in a desirable Houston location.
Where is this apartment building located?
The property is located at 9849 Mesa Drive Houston, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Investor special with 15 units; Located in a highly desirable part of Houston; Surrounded by up and coming construction
