6727 Telephone Rd
Houston, TX 77061
Casa Cruz · Multifamily Property For Sale · 1 Unit

Nicely rehabbed community with 98% occupancy - Conveniently located in the Gulf Freeway Sub-market of southeast Houston, Texas. The area is a dense and well-diversified area. Many of the employers in the sub-market are aligned along interstate 45 and Loop 610. The area is an older area of Houston with homes built in the 50's and 60's. The market is a stable rental market area with area occupancy above average when compared to the city of Houston as a whole. The property is approximately 1 mile west of I-45 (Gulf Freeway) and approximately 2 miles outside Loop 610 and sits adjacent to Ortiz Middle School and Lewis Elementary is within walking distance behind the property. In 2014 80% of the windows on the property were replaced with new weatherized windows. The owner completed a moderate rehab in 2015-2016. According to the Owner, all HVAC Units were replaced in 2017. There seems to be upside with interior improvements and domestic rent increases. The property's rents seem to be below its competition in the area. Since there are 0 units under construction or proposed for the area and rental rates and occupancy rates have steadily increased over the last year (4.25% rate increase over 2017), the property has prime opportunity to capture significant growth.