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OAKWOOD VILLA APARTMENTS

Address:

6201 W. Bellfort, Houston, Texas 77035

Price:

Unpriced

Price / Unit:

N/A

Price / Square Foot:

N/A

Number of Units:

284

Avg Sq. Ft. / Unit:

895

Class:

"C" Property

Type:

CIRCA 1977 2 STORY, GARDEN STYLE APARTMENT COMMUNITY

Broker / Agent:

JIM HURD

Description:

INVESTMENT INFORMATION:

1) OAKWOOD VILLA - is a value enhancement opportunity. The property is being offered on an "all cash" basis (new loan is required). Oakwood Villa is a 284 unit, "C" grade, garden style apartment community located in the Fondren Southwest area of Southwest Houston, Texas. The property is individually metered for electric and master metered for gas and water (the owner is billing back for water), for additional income a new owner may be able to bill back for gas and trash. The owner has performed some upgrades, there seems to be good upside with continued exterior and interior improvements. Properties in the immediate area that have seen some degree of rehab demand higher rents per S.F.

2) Location & Accessibility - The Oakwood Villa Apartments’ location in the Fondren Southwest Houston area is ideal for the large blue collar workforce demographic in the area. The property is located in the Fondren Southwest submarket of southwest Houston. The community sits West of Hillcroft, East of Fondren, North of Hwy 90 and South of South Braeswood. The location gives good access to Beltway 8 and Hwy 59 and the Westpark Tollway which allows access to all major employment areas within Houston and Sugarland. Housing in the area is comprised of mostly B and C grade workforce housing. The area is located in one of Houston's Major Growth Areas. Oakwood Villa is approximately five miles north of Houston Chinatown. The property is across from a retail center consisting of eateries and retail shops.

3) Strong Rent Growth - The property is located in the Fondren Southwest sub-market of the Houston MSA. This sub-market has had a tremendous amount of growth and some revitalization. Properties in the area have seen a steady increase in rents and occupancies in the last 4 years. A new owner should be able to capitalize on the area's growth with a moderate rehab to help bring the rents in line with other improved properties in the area.

Download attachments:

OAKWOOD VILLA OFFERING MEMORANDUM

Financials:

View Financials