707 Greens Rd
Houston, TX 77060
Maison De Ville · Multifamily Property For Sale · 121 Units

Greystone National Apartment Advisors is pleased to offer Maison De Ville, a 121-unit multifamily opportunity in Houston, Texas. -Market Rents are significantly lower (approximately $150) than comparable properties. -Value-add opportunity by upgrading the interiors of the units, which have yet to be renovated. -Located in an Opportunity Zone, designed to spur economic development by providing tax benefits to investors. First, investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026. If the QOF investment is held for longer than 5 years, there is a 10% exclusion of the deferred gain. If held for more than 7 years, the 10% becomes 15%. Second, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor is eligible for an increase in basis of the QOF investment equal to its fair market value on the date that the QOF investment is sold or exchanged (Source: City of Houston, Texas Website (https://www.houstontx.gov/ecodev/opportunity-zones_concept.html); Buyer is advised to independently verify this information). -All units have washer/dryer connections. -Owner recently spent over $500,000 on capital improvements including plumbing repairs, parking lot repairs, HVAC units, Appliances and Club House. -The property did flood during Hurricane Harvey.