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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Garden apartment buildings
4000 34th St 178 Houston, TX 77092-6915
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US83-0032137
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1971
Construction
FRAME
Total area
11,688 SF
Lot
8.14 ac (354,666 SF)
APN
432050010038
UPID
US83-0032137
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
-
Jay D Siegal Publishing Music Venue Publishing House
-
GGG SPRAY DECK Factory
-
Eitherware Nano LLP Grocery & Convenience Store
-
Montabella at Oak Forest Apartments Apartment Complex
-
Squared Away Painting Painting Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$585k
Owner & transaction history
34th Corner LP · 10 yrs held
34th Corner LP
since 2015
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$955,000
+57.3%
Medical building
$745,000
+23.0%
Retail stores
$740,000
+22.0%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$605,000
Current use
AUTO REPAIR, GARAGE
$955,000
Change: +57% · Conversion: Difficult
MEDICAL BUILDING
$745,000
Change: +23% · Conversion: Moderate
RETAIL STORES
$740,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$585k
Range $527k – $644k · ±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
$50 / 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
$591,850
Tax year 2022
Assessed value
$27,147,178
Assessed 2024
Previous assessed
$29,374,939
-7.6% YoY
Effective rate
2.18%
On assessed value
Assessed land
$2,673,814
Assessed improvement
$24,473,364
Land market value
$2,673,814
Improvement market value
$24,473,364
Total market value
$27,147,178
Applied tax rate
1.0000
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
1971
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
23
Stories
2
Rooms
4
Bathrooms
1
Total area
11,688 SF
Lot
8.14 ac (354,666 SF)
APN
432050010038
UPID
US83-0032137
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
$605,000
AUTO REPAIR, GARAGE
Est. value
$955,000
MEDICAL BUILDING
Est. value
$745,000
RETAIL STORES
Est. value
$740,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1971
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
23
Rooms
4
Bathrooms
1
Lot
8.14 ac
Current owner
From public records · entity-resolved
34th Corner LP
Entity
Mailing address
515 CONGRESS AVE FL, AUSTIN, TX 78701-3565
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2025
—
Pref Montabella Propco LLC
—
Deed
related
$36,000,000 · Fbred Bdc Finance LLC
Mar 27, 2018
—
34th Corner LP
—
Deed
related
—
Sep 24, 2015
—
34th Corner LP
Valetudo Properties LLC
Grant Deed
related
—
Jan 4, 2006
—
Valetudo Properties LLC
Clearbrook Houston
Grant Deed
$4,254,265 · Imperial Capital Bank
Mar 3, 1998
—
1919 North Loop LP
Derrington & Maze PLLC
Grant Deed
related
—
Dec 19, 1997
—
Clearbrook Houston LP
Federal National Mortgage Assn
Grant Deed
related
—
—
—
Valetudo Properties LLC
—
Deed Of Trust
related
$5,025,000 · Arbor Commercial Funding LLC
—
—
Valetudo Properties LLC
—
Deed Of Trust
related
$552,400 · Arbor Commercial Funding LLC
—
—
34th Corner LP
—
Loan Modification
related
$9,780,000 · Legacy Bk/tx
—
—
34th Corner LP
—
Deed Of Trust
related
—
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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