3602 Garrott St
Houston, TX 77006
3602 Garrott Apartments · Multifamily Property For Sale · 20 Units

Scott Gray Real Estate is proud to exclusively introduce the twenty unit Spruce Garrott Apartments located at 3602 Garrott St. in Houston's highly desirable Historic Westmoreland District. This quality located, unique apartment community underwent a major rehab approximately 10 years ago resulting in the creation of an operation that delivers consistently high occupancy and rent growth. Improvements transformed this 1963 constructed apartment project into one of the most charming properties in the Westmoreland Historic District established in 1902. An area containing an eclectic mixture of Late Victorian and early 20th century house styles. The previous owner responsible for the 'Art Deco" theme delivered a product with bold colors in exterior covering and artwork throughout. Slate flooring (inside and out), stone countertops, decorative backsplashes add to the quality living experience. Just the beginning as this property offers so much more. Garrott may be purchased stand alone or along with its sister property-The Richton Apartments located in the Upper Kirby District at 2322 Richton, Houston, 77098. Rarely does an asset of this quality come to market offering that operator who possesses a pride in ownership an opportunity to acquire a property that provides both immediate cash flow and a proven "value add" component. Recently, as an example, the Owner added a washer/dryer to two units in the portfolio resulting in an approximate 10% increase in rental rates. Equally exciting is the development activity in the area. Please see the attached link relative to the revitalization efforts planned for the area immediately to the east of Garrott-the reroute of Interstate Highway 45, the opening of a new Whole Foods Market at Westheimer and Bagby to name a few. Most notably though, the $100 million dollar redevelopment of the historic downtown Sears site by Rice University in cooperation with city and business leaders into a technology center on a level to compete with the Silicon Valley's of the world. All of which, especially the prospect of an additional 10,000 new jobs will have serious economic impact on Houston with the Historic Westmoreland District positioned to reap huge rewards from housing opportunities available for the increased labor force to be stationed next door. Garrott will be shown by appointment only. Please contact Listing Broker to arrange for a visit. Drive-bys are welcome but PLEASE DO NOT ENTER THE PROPERTY OR ENGAGE ANY TENANTS. Thank you.