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Property profile & analytics
FOR SALE
Garden apartment buildings
9404 West Rd Houston, TX 77064
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-3659932
For Sale
1 / 18
$2,250,000
9404 West Rd, Houston, TX 77064
View Listing →
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2005
Construction
FRAME
Total area
22,260 SF
Lot
15.65 ac (681,845 SF)
APN
1297190010001
UPID
US82-3659932
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
-
All Access Houston IT Consulting Firm Tech Support Center
-
HiTechNorthwest Computer Support And Services Business Networking Company
-
Watermarke Pool Swimming Pool Hardware & Home Improvement
-
Discovery at West Road Apartment Complex
-
Northstaredu Sports School Sports Field & Court
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.09M
Blend (final)
Blend
$2.25M
Owner & transaction history
Mrp Watermarke LLC · 4 yrs held
Mrp Watermarke LLC
since 2021
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.5M
+149.0%
Office building
$3.4M
+141.5%
Restaurant
$1.6M
+12.7%
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)
$1,390,000
Current use
COMMERCIAL (GENERAL)
$3,465,000
Change: +149% · Conversion: Moderate
OFFICE BUILDING
$3,360,000
Change: +141% · Conversion: Moderate
RESTAURANT
$1,570,000
Change: +13% · Conversion: Difficult
MEDICAL BUILDING
$1,420,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$2.25M
Range $2.03M – $2.48M · ±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
$101 / 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
$272,525
Tax year 2022
Assessed value
$39,241,622
Assessed 2024
Previous assessed
$39,665,910
-1.1% YoY
Effective rate
0.69%
On assessed value
Assessed land
$5,454,760
Assessed improvement
$33,786,862
Land market value
$5,454,760
Improvement market value
$33,786,862
Total market value
$39,241,622
Applied tax rate
4.0000
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
For Sale
Year built
2005
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
15
Stories
3
Total area
22,260 SF
Lot
15.65 ac (681,845 SF)
APN
1297190010001
UPID
US82-3659932
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
$1.4M
COMMERCIAL (GENERAL)
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.4M
RESTAURANT
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
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
2005
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
15
Lot
15.65 ac
Current owner
From public records · entity-resolved
Mrp Watermarke LLC
Entity
Mailing address
2520 GASKINS RD STE B, HENRICO, VA 23238-1482
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 23, 2021
—
Mrp Watermarke LLC
Price Watermarke LLC
Special Warranty Deed
$38,665,000 · Cmif Reit LLC
Oct 14, 2015
—
Price Watermarke LLC
Beltway 8 Associates LP
Grant Deed
$26,800,000 · Holliday Fenoglio Fowler
—
—
Beltway 8 Associates LP
—
Deed Of Trust
related
$3,800,000 · Amegy Bank NA
—
—
Beltway 8 Associates LP
—
Loan Modification
related
$22,000,000 · Amegy Bk
—
—
Beltway 8 Associates LP
—
Deed Of Trust
related
$18,200,000 · Amegy Bk
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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