6203 Marinette Dr.
Houston, TX 77036 ·
193 Units · Multifamily For Sale
|Price||N/A||Property Use Type||Investment|
|No. Units||193||Cap Rate||9.50%|
|Building Size||176,484 SF||No. Stories||3|
|Property Type||Multifamily||Year Built||1974|
|Property Sub-type||Garden/Low-Rise||Lot Size||4.29 SF|
|Listing ID: 18121023||Date Created: 04/12/2013||Last Updated: 10/23/2013|
"C"Grade Property ~ Good Upside Potential ~ Available "all cash" ~ No
Owner Financing. Marinette Gardens is a unique opportunity for an
investor to purchase a property with good value add potential in todays
tightening "C" market.
The property has good upside potential in the rents with a rehab and
some interior upgrades. Properties that are well maintained with good
tenant services that are within close proximity of the subject maintain
above average occupancy levels.
The property is conveniently positioned in
southwest Houston approximately 2 miles inside of Beltway 8. It is less than a mile
from the Westpark Tollway and Hwy 59 (SW Freeway). The Beltway, Westpark
Tollway and Hwy 59 are 3 of Houston's major thoroughfares which allow for ease of
access to most employment centers of Houston. The residents of Marinette Gardens
benefit from the nearby schools, employment, entertainment, dinning and shopping.
The property sits approximately 2 miles outside the Westchase business district, one
of Houston's premier business addresses.
- Grade "C" property with upside in the rents with a minor rehab
- Good Location approximately 2 miles inside of Beltway 8 and 2 miles outside the Weschase District
- Excellent access to Hwy 59 and Beltway 8 as well as the Westpark Tollway
- Property has below market rents
- The property is within minutes of the popular Westchase District, City Centre and the Galeria area
- Located in Houston, Texas, one of the strongest economies in the US and one of the fastest growing populations
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