Description:
INVESTMENT HIGHLIGHTS:
1) Houston Income Properties, Inc., acting as exclusive advisors to the seller, is pleased to present the opportunity for qualified investors to acquire the fee-simple interest in The Kenton Apartments, an 80-unit, garden style apartment complex located in Alvin, Texas. The property is available "All Cash" (buyer to acquire a new loan) ~ No Owner Financing.
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2) Property Location - the property is well located in the Brazosport Area in the city of Alvin. It benefits not only from the employment generated in Alvin but also by the employment generated by the petrochemical plants in the surrounding areas and employment generated by the city of Houston. Alvin is approximately 12 miles south of the Houston city limits and a short 45 minute commute to Galveston. Major Transportation arteries within minutes of the property are TX-35 Buss. TX-6, Hwy 35 Bypass, TX-35 Loop, Mustang Rd., Old Galveston Rd. and County Rd 155 and the soon to be Grand Parkway (Hwy 99), which will run in front of the property where Hwy 35 Bypass is now. The Grand Parkway is a major ring road that encircles the Greater Houston area, providing connectivity between various regions, including Alvin in Brazoria County. It's designed to alleviate congestion and facilitate easier access to surrounding areas, making it a vital artery for both local traffic and long-distance travel.
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3) Property Highlights - The property is an 80 unit, "A-" grade, garden style apartment community. It is located in the Alvin area of the Houston MSA. This area has good accessibility to the business district along Hwy 35. The property was built in 2010 by the current owner and has been well taken care of. The owner has expended $360K+ in CapEx from January 2023 to December 2025. Each unit has washer and dryer connections and individual electric hot water heaters. The Kenton has a stand alone leasing office with a clubhouse that includes a kitchen as well as an exercise room for tenants' enjoyment. The property has 160 parking spaces of which 80 are covered spaces. In addition, the property has fire sprinklers throughout. Additional property amenities include - available Cable, Convenient Access to Major Transportation Arteries in the area, Convenient Commute to Port Freeport and to the employment in Houston, On‐site Laundry Facility, Sitting and Grilling areas, Pool, Storage, Access Gates and Fully Fenced. All units have ground access. The property is all electric with the exception of the common area which has gas as well as electric.
4) Strong Rent Growth Potential - Today's economic climate is favorable for property owners within the rental market. Rising interest rates and the persistent increase in home prices are rendering homeownership unattainable for many potential buyers, resulting in renters remaining in the market for an extended period. This trend is likely to boost occupancy rates and rental prices. Additionally, the construction of the new Grand Parkway segment adjacent to the property will create numerous job opportunities, both during the construction phase and once it is complete. The anticipated growth in rental rates and overall property value should positively impact the Alvin area as this segment of the Grand Parkway is completed. Similar to other segments, this development is expected to spur the emergence of new commercial businesses along the route.