Multifamily Property for Sale in Houston, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Houston, TX 77029

Description

Marcus & Millichap is proud to present 7914 Norvic St., a small multifamily asset located in a quiet residential enclave just east of the Loop in Houston, Texas. The property offers investors a stabilized, income-producing opportunity with durable cash flow supported by participation in the Harris County Section 8 program. With consistent demand for affordable housing in the area, the asset benefits from reliable occupancy and predictable income streams. Offered at an attractive 8.5% cap rate, the property is positioned as a yield-focused investment with minimal operational volatility. Its location provides convenient access to major employment corridors while maintaining a neighborhood feel that appeals to long-term tenants. Investment Highlights: • Attractive In-Place Yield: Offered at an 8.5% cap rate, delivering strong day-one cash flow. • Stable Section 8 Income: Backed by the Harris County Housing Authority, providing consistent and reliable rent collections. • Quiet, Infill Location: Situated in a low-density pocket just east of the Loop, offering strong tenant demand with neighborhood appeal.

Market Context

This multifamily in Houston, TX is listed for sale. It is offered at an approximate 8.6% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 54 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 8.6% 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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