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- LoopNet Team
7525 Hillcroft St
Houston, TX 77081
Santa Lucia Apartments · Multifamily Property For Sale
·
60 Units
INVESTMENT HIGHLIGHTS
- High Occupancy Property with Possible Upside with continued Interior Renovations
- The property recently received a 486K+ exterior and interior rehab.
- Area surrounded by high-end homes
- Zoned for Bellaire High School
PROPERTY FACTS
| No. Units | 60 | Building Size | 51,440 SF |
| Property Type | Multifamily | Average Occupancy | 60% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1960/2017 |
| Building Class | C | Parking Ratio | 1.85/1,000 SF |
| Lot Size | 1.87 AC | ||
| Zoning | MF - Multi-Family | ||
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.87 AC |
| Building Size | 51,440 SF |
| Average Occupancy | 60% |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2017 |
| Parking Ratio | 1.85/1,000 SF |
| Zoning | MF - Multi-Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Ice Maker
- Oven
- Range
- Tub/Shower
- Carpet
- Den
- Dining Room
- Linen Closet
- Pantry
- Patio
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Playground
- Property Manager on Site
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
ABOUT 7525 HILLCROFT ST , HOUSTON, TX 77081
OPEN HOUSE - THURSDAY, MARCH 5TH, 2020 - R.S.V.P. 713.783.6262 - Santa Lucia recently received an $8,000+ / unit renovation. Approx. 50 units have been upgraded to varying degrees. The interior upgrades consist of a combination of the following; ceramic floor tile granite counter tops, tile back splash, resurfaced cabinets, new hardware, improved lighting package with ceiling fans and new appliances. The exterior received the following; full paint, carport beams were changed, stairs and balconies repaired, new window shutters, new fencing in the back, new gutters, new playground equipment, a new leasing office, new cameras installed, installed new gate electronics and new signage. There is upside potential in upgrading the remaining apartments and by increasing other income by increasing the percentage of tenants paying their share of electric upon lease renewals, along with charging more tenants for covered parking. The property is located near Fiesta Mart, Sharpstown Mall and neighborhood schools. According to CoStar there is a shortage of workforce housing in the area. Since 2010 this area has seen a 34% increase in rents, one of the highest percentage increases in all of Houston's sub-markets in that time frame. The Gulfton Sub-Market is made up of mostly 60's and 70's built properties. The dense blue collar population in the area should insure a steady occupancy for these properties in the future.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 38 | $772.00 | 705 |
| 2+2 | 22 | $1,005 | 1,075 |
PROPERTY TAXES
| Parcel Number | 0370630000005 | Improvements Assessment | $3,002,476 |
| Land Assessment | $815,680 | Total Assessment | $3,818,156 |
PROPERTY TAXES
