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The Park at Veracruz 3499 Evergreen Dr 106 Unit Apartment Building For Sale Houston, TX 77087
Executive Summary
***Minimum Bid: $9,800,000
The Park at Veracruz presents a compelling yield-plus investment opportunity, combining strong in-place cash flow with a clearly defined path to value creation. The property is currently 95% occupied, providing immediate income stability and a proven tenant base. Investors have the opportunity to enhance returns through a strategic value-add program, including interior renovations, operational efficiencies, and continued rent growth driven by consistently high occupancy.
Positioned within a high-demand workforce housing corridor, the asset benefits from consistent renter demand and limited new supply. Its proximity to major employment centers—including Downtown Houston, the University of Houston, and the Texas Medical Center—further supports long-term occupancy and rent growth. With an attractive basis below replacement cost, The Park at Veracruz offers both downside protection and meaningful upside potential.
What Is a Minimum Bid?
Minimum Bid represents the starting price at which ownership is willing to review qualified purchase offers.
Ownership reserves the right to accept, reject, negotiate, counter, request best and final, or withdraw the offering.
The Park at Veracruz presents a compelling yield-plus investment opportunity, combining strong in-place cash flow with a clearly defined path to value creation. The property is currently 95% occupied, providing immediate income stability and a proven tenant base. Investors have the opportunity to enhance returns through a strategic value-add program, including interior renovations, operational efficiencies, and continued rent growth driven by consistently high occupancy.
Positioned within a high-demand workforce housing corridor, the asset benefits from consistent renter demand and limited new supply. Its proximity to major employment centers—including Downtown Houston, the University of Houston, and the Texas Medical Center—further supports long-term occupancy and rent growth. With an attractive basis below replacement cost, The Park at Veracruz offers both downside protection and meaningful upside potential.
What Is a Minimum Bid?
Minimum Bid represents the starting price at which ownership is willing to review qualified purchase offers.
Ownership reserves the right to accept, reject, negotiate, counter, request best and final, or withdraw the offering.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Sale Type | Investment | Lot Size | 3.94 AC |
| No. Units | 106 | Building Size | 87,079 SF |
| Property Type | Multifamily | Average Occupancy | 91% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1961 |
| Building Class | C | Parking Ratio | 0.84/1,000 SF |
| Zoning | none | ||
| Sale Type | Investment |
| No. Units | 106 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.94 AC |
| Building Size | 87,079 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 0.84/1,000 SF |
| Zoning | none |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Range
- Carpet
Site Amenities
- Laundry Facilities
- Pool
- Property Manager on Site
- Gated
- Grill
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 52 | - | 500 - 665 |
| 2+1 | 18 | - | 800 |
| 2+2 | 32 | - | 974 |
| 3+2 | 4 | - | 1,150 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 0410120000017 | Improvements Assessment | $6,786,974 |
| Land Assessment | $1,201,963 | Total Assessment | $7,988,937 |
Property Taxes
Parcel Number
0410120000017
Land Assessment
$1,201,963
Improvements Assessment
$6,786,974
Total Assessment
$7,988,937
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The Park at Veracruz | 3499 Evergreen Dr
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