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311 Gladstell St
Conroe, TX 77301
The Grove on Gladstell · Multifamily Property For Sale
·
52 Units
Investment Highlights
- Excellent Location
- Value Add Opportunity
- Great Unit Mix
- Reported occupancy of 92.3% at the time of marketing.
Executive Summary
The Grove on Gladstell is a 52-unit multifamily community located on approximately 2.18 acres in Conroe, Texas. Developed in 1972 and configured across six two-story residential buildings, the property offers a diverse mix of one-bedroom, two-bedroom, and three-bedroom floor plans that appeal to a broad renter base. The community includes a swimming pool, on-site laundry facilities, a rental office, grade-level parking, and units featuring private patios or balconies, individual air conditioning, high-speed internet access, and semi-private entries.
Positioned along Gladstell Street, the property benefits from direct frontage and visibility while maintaining convenient access to Interstate 45, one of the region's primary transportation corridors. The location places residents within the growing Conroe market, providing connectivity to employment centers, retail services, and regional amenities throughout Montgomery County and the greater Houston area.
The asset is currently reported at 92.3% occupancy and offers an established operating platform for investors seeking an existing multifamily property within a market that has experienced continued residential and economic expansion. The unit mix includes larger family-oriented floor plans, with an average unit size exceeding 1,000 square feet, supporting long-term resident appeal. The property is also located within both a Qualified Census Tract and an Opportunity Zone, creating potential additional considerations for qualified investors evaluating redevelopment, capital improvement, or long-term hold strategies.
Positioned along Gladstell Street, the property benefits from direct frontage and visibility while maintaining convenient access to Interstate 45, one of the region's primary transportation corridors. The location places residents within the growing Conroe market, providing connectivity to employment centers, retail services, and regional amenities throughout Montgomery County and the greater Houston area.
The asset is currently reported at 92.3% occupancy and offers an established operating platform for investors seeking an existing multifamily property within a market that has experienced continued residential and economic expansion. The unit mix includes larger family-oriented floor plans, with an average unit size exceeding 1,000 square feet, supporting long-term resident appeal. The property is also located within both a Qualified Census Tract and an Opportunity Zone, creating potential additional considerations for qualified investors evaluating redevelopment, capital improvement, or long-term hold strategies.
Property Facts
| Sale Type | Investment | Lot Size | 2.18 AC |
| No. Units | 52 | Building Size | 52,810 SF |
| Property Type | Multifamily | Average Occupancy | 92% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1972/2026 |
| Building Class | B | Opportunity Zone |
Yes
|
| Sale Type | Investment |
| No. Units | 52 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.18 AC |
| Building Size | 52,810 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2026 |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Vaulted Ceiling
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Walk-In Closets
- Carpet
- Yard
- Dining Room
- Freezer
- Vinyl Flooring
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Pool
- Property Manager on Site
- Grill
- Lounge
- Maintenance on site
- Online Services
- Sundeck
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $760.00 | 655 |
| 2+1.5 | 24 | $1,045 | 930 |
| 2+2 | 18 | $1,250 | 1,330 |
Property Taxes
| Parcel Number | 0249-01-04000 | Improvements Assessment | $3,930,240 |
| Land Assessment | $569,760 | Total Assessment | $4,500,000 |
Property Taxes
Parcel Number
0249-01-04000
Land Assessment
$569,760
Improvements Assessment
$3,930,240
Total Assessment
$4,500,000
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