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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Garden apartment buildings
1711 Gessner Rd 72 Houston, TX 77080-7042
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US82-4478598
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1962
Construction
BRICK
Total area
12,029 SF
Lot
3.07 ac (133,524 SF)
APN
915650000019
UPID
US82-4478598
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
-
Blue Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$470k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$686k
Blend (final)
Blend
$575k
Owner & transaction history
Blue Apartment LLC · 4 yrs held
Blue Apartment LLC
since 2021
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$870,000
+55.2%
Office building
$835,000
+49.5%
Medical building
$770,000
+37.2%
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
$470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$560,000
Current use
RETAIL STORES
$870,000
Change: +55% · Conversion: Difficult
OFFICE BUILDING
$835,000
Change: +50% · Conversion: Moderate
MEDICAL BUILDING
$770,000
Change: +37% · Conversion: Moderate
WAREHOUSE, STORAGE
$715,000
Change: +28% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$48 / 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
$78,114
Tax year 2022
Assessed value
$6,811,248
Assessed 2024
Previous assessed
$7,409,270
-8.1% YoY
Effective rate
1.15%
On assessed value
Assessed land
$2,002,860
Assessed improvement
$4,808,388
Land market value
$2,002,860
Improvement market value
$4,808,388
Total market value
$6,811,248
Applied tax rate
25.0000
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
1962
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
9
Stories
2
Rooms
1
Bathrooms
1
Total area
12,029 SF
Lot
3.07 ac (133,524 SF)
APN
915650000019
UPID
US82-4478598
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
$560,000
RETAIL STORES
Est. value
$870,000
OFFICE BUILDING
Est. value
$835,000
MEDICAL BUILDING
Est. value
$770,000
WAREHOUSE, STORAGE
Est. value
$715,000
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
OFFICE BUILDING
MEDICAL BUILDING
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
1962
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
9
Rooms
1
Bathrooms
1
Lot
3.07 ac
Current owner
From public records · entity-resolved
Blue Apartment LLC
Entity
Mailing address
PO BOX 545, LAKEWOOD, NJ 08701-0545
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 21, 2025
—
Celtic Apartments LLC
—
Deed
related
$18,800,000 · Morgan Stanley Bank NA
Aug 19, 2021
—
Blue Apartment LLC
Dmz Property LLC
Special Warranty Deed
$10,024,200 · The Bancorp Bank
—
—
Southviews Legacy Ltd
—
Deed Of Trust
related
$495,700 · Us Small Business Admn
—
—
Southviews Legacy Ltd
—
Deed Of Trust
related
$495,700 · Us Small Business Admn
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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