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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Garden apartment buildings
16900 Northchase Dr 384 Houston, TX 77060-2134
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-0478269
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1979
Construction
WOOD FRAME
Total area
14,424 SF
Lot
13.05 ac (568,545 SF)
APN
1121130000002
UPID
US82-0478269
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
-
The Royal Phoenician Apartment Complex
-
Free Truconnect Cellphone Service Mobile Phone Store Electronics & Wireless Store
-
A+Babysitting Daycare Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$495k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$531k
Blend (final)
Blend
$515k
Owner & transaction history
Ptsw Building LLC · 1 yrs held
Ptsw Building LLC
since 2025
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$770,000
+38.8%
Warehouse, storage
$665,000
+19.5%
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 Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Houston 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
$495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$555,000
Current use
RETAIL STORES
$770,000
Change: +39% · Conversion: Difficult
WAREHOUSE, STORAGE
$665,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$36 / 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
$197,957
Tax year 2022
Assessed value
$16,877,730
Assessed 2024
Previous assessed
$17,037,635
-0.9% YoY
Effective rate
1.17%
On assessed value
Assessed land
$2,814,298
Assessed improvement
$14,063,432
Land market value
$2,814,298
Improvement market value
$14,063,432
Total market value
$16,877,730
Applied tax rate
9.0000
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
1979
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
20
Stories
3
Rooms
5
Bathrooms
1
Total area
14,424 SF
Lot
13.05 ac (568,545 SF)
APN
1121130000002
UPID
US82-0478269
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$555,000
RETAIL STORES
Est. value
$770,000
WAREHOUSE, STORAGE
Est. value
$665,000
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
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
1979
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
3
Buildings
20
Rooms
5
Bathrooms
1
Lot
13.05 ac
Current owner
From public records · entity-resolved
Ptsw Building LLC
Entity
Free & Clear · 1 yrs held
Mailing address
10101 FONDREN RD STE #460, HOUSTON, TX 77096-5763
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2025
—
Ptsw Building LLC
Rudolph Smith
Warranty Deed
—
Nov 2, 2005
—
Royal Phoenician Vineland Ltd
Bacm 2001-1 Northchase Dr
Grant Deed
$5,420,000 · Silvergate Bank
Oct 5, 2004
$7,000,000
2001-1 Northchase Drive L Bacm
Leva,jeff
Trustees Deed
—
Jul 13, 1998
—
Royal Phoenician Ltd
First Equity Holdings Of Ameri
Grant Deed
related
—
Jan 10, 1997
—
First Equity Holings Of Americ
—
Grant Deed
related
$4,880,000 · Bank United Of Texas Fsb
—
—
Royal Phoenician Mariposa Ltd
—
Deed Of Trust
related
$5,142,131 · Silvergate Bank
—
—
Westchase Vineland Landings
—
Deed Of Trust
related
$17,000,000 · Miscellaneous Ins Co
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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