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Property profile & analytics
OFF-MARKET
Garden apartment buildings
1776 Gessner Rd 224 Houston, TX 77080-6345
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US82-4051399
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1970
Construction
FRAME
Total area
3,468 SF
Lot
8.18 ac (356,173 SF)
APN
583040000065
UPID
US82-4051399
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
-
RD Remodeling & Renovation Hardware & Home Improvement Interior Design
-
Erica Campos Herbalife distribuidor independiente Physician
-
No escuela High School
-
La casa de Jorge Luis Lara Grocery & Convenience Store Food Market
-
La casa de Jesser Nightclub DJ & Entertainment
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
First Choice Apartments 1 LLC · 6 yrs held
First Choice Apartments 1 LLC
since 2019
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$170,881
Tax year 2022
Assessed value
$15,004,812
Assessed 2024
Previous assessed
$16,208,320
-7.4% YoY
Effective rate
1.14%
On assessed value
Assessed land
$6,233,028
Assessed improvement
$8,771,784
Land market value
$6,233,028
Improvement market value
$8,771,784
Total market value
$15,004,812
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
1970
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
19
Stories
2
Rooms
1
Bathrooms
1
Total area
3,468 SF
Lot
8.18 ac (356,173 SF)
APN
583040000065
UPID
US82-4051399
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
Building & site characteristics
From public records
Year built
1970
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
19
Rooms
1
Bathrooms
1
Lot
8.18 ac
Current owner
From public records · entity-resolved
First Choice Apartments 1 LLC
Entity
Mailing address
1776 GESSNER RD APT #224, HOUSTON, TX 77080-6345
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2019
—
First Choice Apartments 1 LLC
—
Deed
related
$13,965,000 · Arbor Com'l Fndg I LLC
Oct 31, 2016
—
First Choice Apartments 1 LLC
—
Deed
related
$1,500,000 · Arbor Com'l Fndg I LLC
Feb 10, 2009
—
Springtowne Family Invs LLC
—
Trustees Deed
related
$5,700,000 · Greystone Com'l Mtg Ln Fndg
—
—
First Choice Apartments 1 LLC
—
Deed Of Trust
related
$13,965,000 · Arbor Com'l Fndg I LLC
—
—
First Choice Apartments 1 LLC
—
Deed Of Trust
related
$6,500,000 · Arbor Commercial Funding LLC
—
—
First Choice Apartments 1 LLC
—
Deed Of Trust
related
$1,500,000 · Arbor Com'l Fndg I LLC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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