Description:
207 Unit ‐ Grade "C" Apartment Community located in Houston, Texas approximately 1.5 miles outside the New Chinatown, Houston in Southwest Houston, Texas. Upside Potential ‐ the current owner has upgraded approximately 103 units with tile flooring (103 Units). These units are marketed with a rent premium over the market rents of the non‐upgraded units. This should be indicative of upside in the rents of the remaining units that do not have tile flooring. In addition, a new owner may be able to implement a water RUBS for additional income. Good Location ‐ The community is conveniently located within 1/2 mile of numerous eating and entertainment venues. Both Primary and Middle schools are within a mile and half of the Property. The High School is approximately 3 miles from the property. The property's location gives convenient access to major transportation arteries. US Hwy 59 (Southwest Frwy) and Beltway 8, are both less than a mile from the property allowing good access to an abundance of employment, entertainment, shopping and dining. Major east/west and north/south thoroughfares in the area are within a half mile of the property as well. Major Employment Districts are withing a short commute of the property such as the Westchase District, Houston Chinatown, Galleria, Downtown Houston, Houston Medical Center as well as the employment in the cities of Sugar Land, Bellaire and Missouri City. To be Sold on an "all cash" basis. There is no assumable debt in place, allowing for unrestricted financing options to a buyer.