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LEADED NWOKEDIEXECUTIVE DIRECTOR+1 713 331 [email protected]
LUCAS TSANGASSOCIATE BROKER+1 713 331 [email protected]
CONTACT THE TEXAS MULTIFAMILY TEAM
Solid Management Team with Focus on Upside
The assets in this portfolio are have been purchased over the past 5 years, but were however not capitalized at the time for a Value Add initiative. This is now a unique opportunity to purchase 4 well managed assets which can now be upgraded to capture aggressive market rent increase with less than $4000.00 per unit in cost.
Market Proven Value Add
With a reasonable capital investment program, the Texas Value 4 Portfolio will be able to achieve up to $185 in average effective rent. JV partners coming into this project can achieve significantly higher yields from upgrading amenities of each expiring unit and push rents near competitors currently leading the market.
Excellent Market Timing
With interest rates rising and so much market uncertainty, this portfolio is very refreshing to offer stable in place CoC yield with the comfort of enjoying below market debt in place. New Investors can choose between, refinancing existing debt or holding current debt until significant value add has been performed.
Markets with Explosive Growth
Both Houston and Dallas are among the nation’s fastest growing markets, while still providing above average investment returns. Dallas and Houston are forecasting avg. 3% rent growth and 4.5% population growth for 2019 -2021. Job creation and lower cost of living are driving the demand in both markets. This is a rare opportunity to source a value add portfolio in two of our most attractive markets.
$1.01 AVG MKT RENT/SF
95.6% AVG OCCUPANCY
1064# OF UNITS
783 AVG UNIT SF
$789 AVG EFF RENT
Houston &Dallas, Texas
Quality Assets with Value-Add Opportunity
JV MULTIFAMILY INVESTMENT PORTFOLIO
1978-83 AVG YEAR BUILT
PORTFOLIO INFO
Submarket Tomball
Property Class B
Units 206
Occupancy 93%
Year Completed 1978
Average Unit Size/SF 837
Average Market Rent/Unit $919
Average Market Rent/SF $1.10
1 BRIDGEWATER1100 Graham DriveTomball, TX 77375
4 WILLOW RIDGE12800 Dunlap Houston, TX 77085
Submarket Braeswood
Property Class B
Units 262
Occupancy 88%
Year Completed 1979
Average Unit Size/SF 718
Average Market Rent/Unit $733
Average Market Rent/SF $1.02
3 PACE’S COVE13100 Pandora DriveDallas, TX 75238
Submarket East Dallas
Property Class B
Units 328
Occupancy 96%
Year Completed 1983
Average Unit Size/SF 670
Average Market Rent/Unit $687
Average Market Rent/SF $1.03
2 NORMANDY WOODS695 NormandyHouston, TX 77015
Submarket Northshore/Woodforest
Property Class B
Units 268
Occupancy 94%
Year Completed 1980
Average Unit Size/SF 774
Average Market Rent/Unit $841
Average Market Rent/SF $1.09
35E
20
20
67
30
30
45
35
635
820
35E
75
82 82
175
287
287
380
380
287
377
35W
35W
DALLASNORTHTOLLWAY
DallasFortWorth
Cleburne
Sherman
Waxahachie
Midlothian
DentonMcKinney
Arlington
Irving
Garland
