811 Colquitt Apartments is a 10 unit apartment building located at 811 Colquitt Street. It contains approximately 6,100 square feet of rentable area and was built in 1959. It is located in the Neartown-Montrose neighborhood. The asset is nestled in a quiet, established, residential neighborhood with an abundance of old oak trees and yesteryear charm.
Residents enjoy a shared laundry facility. There are 9 parking spaces as well as street parking. The units, which range in size from 750 sq. ft. to 1,295 sq. ft., have all tile floors. Electricity is separately metered and paid by the resident. The owner pays gas, water and trash. Water bill is under protest and seller changing insurance out.
The tenant profile is predominately young professionals with income above the average Houston Metro income level. Residents enjoy close proximity to the University of St. Thomas, the Museum of Fine Arts, the Houston Museum of Natural Science, Rothko Chapel, the Houston Zoo, the Texas Medical Center and Downtown Houston.
The broker feels that an interior and exterior upgrade and implementing a RUBS could increase rental income.
