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Property profile & analytics
OFF-MARKET
Estimated value
$780,000
Garden apartment buildings
1550 Katy Gap Rd 384 Katy, TX 77494-4353
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-3932732
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2010
Construction
FRAME
Total area
15,294 SF
Lot
23.66 ac (1,030,813 SF)
APN
1320140010001
UPID
US82-3932732
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Grand Villas Apartment Building Apartment Complex
-
Katy Apt Apartment Complex
-
Aspire Executive Coaching LLC Business Management Consultant
-
Mr Monster Auto Detail Car Wash
-
Barber Services Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$815k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$744k
Blend (final)
Blend
$780k
Owner & transaction history
Gvk Apartments LLC · 13 yrs held
Gvk Apartments LLC
since 2012
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+335.8%
Medical building
$1.0M
+249.8%
Auto repair, garage
$870,000
+192.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Katy submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Katy submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$815,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,295,000
Change: +336% · Conversion: Difficult
MEDICAL BUILDING
$1,040,000
Change: +250% · Conversion: Moderate
AUTO REPAIR, GARAGE
$870,000
Change: +193% · Conversion: Difficult
COMMERCIAL (GENERAL)
$860,000
Change: +189% · Conversion: Moderate
WAREHOUSE, STORAGE
$735,000
Change: +146% · Conversion: Difficult
Blend value · Realmo final
$780k
Range $702k – $858k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$51 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$866,071
Tax year 2022
Assessed value
$50,120,703
Assessed 2024
Previous assessed
$63,286,069
-20.8% YoY
Effective rate
1.73%
On assessed value
Assessed land
$15,462,180
Assessed improvement
$34,658,523
Land market value
$15,462,180
Improvement market value
$34,658,523
Total market value
$50,120,703
Applied tax rate
19.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2010
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
37
Stories
2
Total area
15,294 SF
Lot
23.66 ac (1,030,813 SF)
APN
1320140010001
UPID
US82-3932732
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$870,000
COMMERCIAL (GENERAL)
Est. value
$860,000
WAREHOUSE, STORAGE
Est. value
$735,000
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2010
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
37
Lot
23.66 ac
Current owner
From public records · entity-resolved
Gvk Apartments LLC
Entity
Mailing address
2020 W 89TH ST STE #320, LEAWOOD, KS 66206-1961
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2014
—
Gvk Apartments LLC
—
Loan Modification
related
$45,000,000 · Bmo Harris Bk NA
Nov 19, 2012
—
Gvk Apartments LLC
Grand Parkway Partners LP
Trustees Deed
$33,300,000 · Bmo Harris Bk NA
Dec 22, 2011
—
Grand Parkway Partners LP
—
Trustees Deed
related
$7,500,000 · Wells Fargo Bank
—
—
Gvk Apartments LLC
—
Loan Modification
related
$40,000,000 · Bmo Harris Bank
—
—
Gvk Apartments LLC
—
Deed Of Trust
related
$45,915,000 · Northmarq Cap
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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