Cap Rate
6.55%
Price Per SF
$116
Price Per Unit
$75,000
Units
26
Gross SQFT
16,814
Year Built
1965
Property Type
Apartments
ADDITIONAL LISTING AGENT
INVESTMENT HIGHLIGHTS
- Significant potential for rent increases to align with market rates.
- Over $260,000 invested in capital improvements, ensuring the property remains well-maintained and attractive to tenants.
- Durable TPO roof installed in 2015, with a history of annual inspections and documented repairs to maintain its condition.
- Energy-efficient LED exterior lighting installed throughout the property, enhancing safety and reducing operational costs.
- Extensive renovations completed on 18 of the 26 units, providing modern and updated interiors for residents.
- Conveniently located near major employers, shopping, dining, and IAH Airport, offering excellent accessibility and tenant appeal.
- Beautiful courtyard featuring a fenced pool and a relaxing gazebo, perfect for outdoor gatherings and leisure.
- On-site laundry room equipped with 4 washers and 4 dryers, providing convenience for residents.
- Secure property with four gated entrances and a comprehensive security camera system covering all exterior areas.
- Covered parking spaces available for select units, offering added protection for residents’ vehicles.
- Utilities included in the rent: gas, water, and sewer, with electric service individually metered for each unit.
Broker of Record
- Patrick Graham
- License No. 9005919 (TX)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 8300 Douglas Ave.,
Ste. 750, Dallas, TX 75225