Summary
Our Houston portfolio is comprised of 3 different properties totaling 180 units. These properties include the Bianca, Blanca, and Beatriz apartments. At a purchase price of $54,167/unit this falls below the most recent sale comparables, which allows for a more economical renovation budget. All properties are strategically located near Interstate 45, providing excellent access to Houston’s major employment centers, shopping and entertainment destinations, and airports.
PROPERTY OVERVIEW
– 180 Units
– Purchase Price: $9.75MM
– Year of Construction: 1962, 1964,1973
– Class C Property
BUSINESS PLAN
– Increasing rents to market rates.
– Recovering utility expenses through RUBS.
– Increase income by converting the offices back to units.
– Full interior renovations on each complex.
– Exterior paint, new signage, and fixing deferred maintenance.