Highlights

• Available “All-Cash”
• Excellent Close-In Spring Branch Location
• Near Major Thoroughfare & Shopping Centers, Restaurants, etc.

• Tremendous Upside Potential through implementation of Utility RUBS
• New Roofs (2002)

Description

The property was originally built in 1962 and consists of 3 two-story and 1 one-story (elevated above parking), flat-roof buildings comprised of brick and wood siding with a new (2002) flat roofs with a 9-yr. warranty. HVAC is via individual roof-mounted units and electricity is individually metered. Two gas-fired water heaters supply the hot water. Residents have four different floor plans to choose from ranging in size from 540 sq. ft one-bedroom, one-bath units to 852 sq. ft. two-bedroom units. Besides the convenient location, other amenities include the convenience of an All Bills Paid rental structure, covered parking, fully furnished units with mini-blinds, vinyl tile flooring, stainless steel double sinks, electric appliances, ceiling fans*, and built-in bookshelves*. There is a laundry facility located on the premises as well. Currently operated as a month-to-month lease property, there appears to be potential upside in converting to a more standard 6-month lease structure and reducing the costs associated with the high turnover and vacancy. *in 2-bdrm units TO REDUCE DISRUPTION OF RESIDENTS AND MANAGEMENT, THIS OFFERING IS TO BE SEEN BY APPOINTMENT ONLY.

Amberwood Apartments is a 44-unit two-story garden-style apartment community located at 1830 Johanna, just northeast of the intersection of Long Point Drive and Wirt Road. This is approximately one mile north of Interstate 10 in the Spring Branch area of near-west Houston and is surrounded by numerous retail shopping centers, many restaurants and office complexes as well as both moderate and high-end residential housing. An excellent close-in location with great access to most parts of Houston, it is also in the Spring Branch School District, which is one of the best school districts in the city. This investment opportunity seems poised for continued improvement as the immediate vicinity continues to be reshaped and redeveloped into a more upscale neighborhood. TO REDUCE DISRUPTION OF RESIDENTS AND MANAGEMENT, THIS OFFERING IS TO BE SEEN BY APPOINTMENT ONLY. TO SCHEDULE AN APPOINTMENT, PLEASE CONTACT JEFF EISENHARDT @ .