This property is Off-Market

13502 Northborough Drive
Houston, TX 77067 ·

240 Units · Multifamily For Sale

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Sago Palms Apartments

Price N/A Property Use Type Investment
No. Units 240 Cap Rate 9.59%
Building Size 181,016 SF Occupancy 80%
Property Type Multifamily Year Built 1980
Property Sub-type Garden/Low-Rise Lot Size 7.90 AC
Listing ID: 16097119 Date Created: 02/10/2009 Last Updated: 02/12/2010

Description

Sago Palms represents an opportunity for an investor to acquire a 240 unit class "B" apartment community located in Houston, Texas. The two-story, garden-style property was built in 1980 and renovated in 1992. The property features a pitched composition shingle roof, an asphalt parking surface, and a brick and HardiePlank exterior.

Common area amenities at the property include a sparkling swimming pool, two convenient laundry facilities, a playground, wooded surroundings and gated access. Unit amenities include ceiling fans, walk-in closets, washer/dryer connections, patio/balcony, fireplace and fully equipped kitchen with self-cleaning oven, frost-free refrigerator and pantry. The property offers both one- and two-bedroom floorplans, ranging in size from 552 to 1,056 square feet.

Children at the property attend Heritage Elementary School, Bammel Middle School and Westfield High School. The schools are located within the Spring Independent School District and have been given "Academically Acceptable" ratings by the Texas Education Agency.

Located off of Rankin Road and I-45, Sago Palms offers convenient access to Interstate 45, Beltway 8, Highway 249, Downtown Houston and Bush Intercontinental Airport. Surrounded by residential neighborhoods, the complex is in close proximity to an abundance of shopping, dining, recreational venues and schools.

Northwest Houston is one of the most popular residential and commercial locations in the Houston region. The completion of Sam Houston Toll Way, the upgrading of Highway 6 and FM 1960, as well as improvements to Highway 290, have opened up accessibility to the region. The unincorporated Northwest Harris County area is located just 20 miles from Houston' s central business district, and ten miles from George Bush Intercontinental Airport, providing access to an abundance of major employment.

Entertainment and shopping are plentiful in the Champions area, with nearby Willowbrook and Greenspoint Malls. With safe neighborhoods, the best of schools and libraries, a rich visual and performing arts community, and a wide range of shopping options, Northwest Houston is one of the fastest growing areas in the region.

Highlights

  • Significant Upside Potential in Increasing Occupancy
  • Property Renovated in 1992
  • Garden-Style Apartments with Patio or Balcony in Each Unit
  • Just West of Interstate 45 - Near Bush International Airport
  • Lovely Landscaping and Wooded Surroundings
  • Solid Apartment Market and Employment Growth Region

Research

13502 Northborough Drive, Houston, TX 77067 (Harris County)

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