611 W Cavalcade St
Houston, TX 77009
Residence at the Heights · Multifamily Property For Sale · 97 Units

Residence at the Heights is a 96-unit, Class B+, multifamily asset located in The Heights neighborhood in Houston, Texas. The Heights is positioned immediately northwest of Downtown Houston, was founded in 1891, is Texas' earliest planned community and one of Houston' s most sought after neighborhoods.Residence at the Heights was built in 1972 and renovated in 2015. The property benefits from an excellent location off W. Cavalcade St. The subject is two miles south of Interstate 610 North Loop and half a mile west of Interstate 45 which receives a traffic count of more than 245,000 vehicles per day. Residence at the Heights received $1.7 Million in capital improvements in 2015. Exterior improvements include new gym and equipment, full exterior restoration and paint, new signage, resurfaced parking lots, new perimeter fencing, new drive gates, and upgraded landscaping. New interior finishes include new granite counter tops (kitchen and bathroom), modern fixtures and lighting, new wood veneer cabinets, new all-black appliances, and modern faux wood or tile flooring. Within the past decade, the Heights has experienced a revival which has significantly increased property values up to 50% and attracted many highly regarded chef-driven restaurants, trendy boutique retail, music venues and other local businesses to the area. Residents are in close proximity to major employment centers. These include Houston' s Central Business District (4.4 miles), Uptown District/Galleria (9.3 miles), Greenway Plaza (9.9 miles) and Texas Medical Center (9 miles). With its extensive upgrades and a current occupancy of 94%, Residence at the Heights offers an excellent opportunity to capitalize on a community in a highgrowth submarket at a substantial discount to new construction.