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Verandas at Bear Creek 5455 Timber Creek Place Dr 160 Unit Apartment Building $15,000,000 ($93,750/Unit) Houston, TX 77084
Executive Summary
Minimum Bid: $15,000,000
What Is a Minimum Bid?
Minimum Bid represents the starting price at which ownership is willing to review qualified purchase offers. This does not represent the list price.
Verandas at Bear Creek offers the opportunity to acquire a 160-unit garden-style multifamily community in the established and supply-constrained Bear Creek/Copperfield submarket of West Houston.
Strategically located near I-10 and Highway 6, the property provides direct access to the Energy Corridor and benefits from strong surrounding demographics and durable renter demand. Recent capital improvements exceeding $1.5 million have enhanced the asset, while in-place rents remain below market, presenting a clear path to revenue growth. Offered at an attractive basis relative to replacement cost, Verandas at Bear Creek presents a compelling value-add or core-plus investment with both stability and upside.
What Is a Minimum Bid?
Minimum Bid represents the starting price at which ownership is willing to review qualified purchase offers. This does not represent the list price.
Verandas at Bear Creek offers the opportunity to acquire a 160-unit garden-style multifamily community in the established and supply-constrained Bear Creek/Copperfield submarket of West Houston.
Strategically located near I-10 and Highway 6, the property provides direct access to the Energy Corridor and benefits from strong surrounding demographics and durable renter demand. Recent capital improvements exceeding $1.5 million have enhanced the asset, while in-place rents remain below market, presenting a clear path to revenue growth. Offered at an attractive basis relative to replacement cost, Verandas at Bear Creek presents a compelling value-add or core-plus investment with both stability and upside.
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- Offering Memorandum
Property Facts
| Price | $15,000,000 | Building Class | C |
| Price Per Unit | $93,750 | Lot Size | 4.52 AC |
| Sale Type | Investment | Building Size | 140,861 SF |
| No. Units | 160 | Average Occupancy | 87% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1982 |
| Apartment Style | Garden | Parking Ratio | 1.91/1,000 SF |
| Zoning | MFR | ||
| Price | $15,000,000 |
| Price Per Unit | $93,750 |
| Sale Type | Investment |
| No. Units | 160 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.52 AC |
| Building Size | 140,861 SF |
| Average Occupancy | 87% |
| No. Stories | 2 |
| Year Built | 1982 |
| Parking Ratio | 1.91/1,000 SF |
| Zoning | MFR |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Fireplace
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Carpet
Site Amenities
- Laundry Facilities
- Pool
- Property Manager on Site
- Walking/Biking Trails
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 88 | - | 535 - 664 |
| 2+1 | 16 | - | 748 |
| 2+2 | 56 | - | 864 |
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Moderately walkable
60/100
Moderately drivable
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 1151370000017 | Improvements Assessment | $13,621,291 |
| Land Assessment | $1,574,776 | Total Assessment | $15,196,067 |
Property Taxes
Parcel Number
1151370000017
Land Assessment
$1,574,776
Improvements Assessment
$13,621,291
Total Assessment
$15,196,067
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