Multifamily Property for Sale in Houston, TX

  • Price: $3.7M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Houston, TX 77021
  • Size: 16,206 SF
  • Year built: 1948

Description

​Value Add with a huge amount of space ​Located less than a mile from University of Houston ​Still Generating Cash Flow ​Plenty of parking space ​Great opportunity to Develop! ​Huge demand for Real Estate in this Area ​Great property for redevelopment or improvement ​Already proven area with new developments. Land alone goes for top dollar Building SF: 16206 | Land Size: 87335.0 SF | Year Built: 1948 | Listing Type: FOR SALE

Market Context

This multifamily in Houston, TX is listed for sale at $3,700,000 across 16,206 SF. It is offered at an approximate 7.3% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1948. It has been on the market for 5 days. Compare it against other multifamily listings for sale in Houston, TX — <a href="/search/sale/multifamily/texas/houston">view the full market</a>.

As of Q1 2026, the Houston multifamily market showed average asking rents near $1400.00/unit/mo, rents up 9.2% year over year, and cap rates around 4.8%. Source: Consensus Q1 2026 market report.

Its 7.3% asking cap rate is above the Houston multifamily market average of about 4.8%, implying a higher yield (and typically more risk or upside) than comparable assets. Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Houston?
About 4.8% as of Q1 2026, per Consensus.

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