8740 Westheimer Rd
Houston, TX 77063
Preserve at Piney Point · Multifamily Property For Sale
·
144 Units
Investment Highlights
- Class B+ infill asset located between Houston’s Galleria / Uptown District (83,000 employees) & the Westchase District (53,000 employees)
- Proven value-add opportunity with renovated units achieving between $50 and $100 rent premiums
- Immediately accessible to the prestigious Memorial Villages neighborhood, Piney Point, Hedwig, Bunker Hill, and Hunter’s Creek Villages
- 8.21 acres in the Piney Point submarket surrounded by new multifamily construction
- Within a 3 mile drive to the Westchase District - home to more than 1,500 employers: Phillips 66, Chevron, National Oilwell Varco, & BMC Software
Property Facts
| No. Units | 144 | Building Size | 132,814 SF |
| Property Type | Multifamily | Average Occupancy | 88% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1979 |
| Building Class | C | Parking Ratio | 1.52/1,000 SF |
| Lot Size | 8.21 AC | ||
| Zoning | N/Ap | ||
| No. Units | 144 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 8.21 AC |
| Building Size | 132,814 SF |
| Average Occupancy | 88% |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 1.52/1,000 SF |
| Zoning | N/Ap |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Den
- Dining Room
- Window Coverings
Site Amenities
- Business Center
- Controlled Access
- Laundry Facilities
- Pool
- Property Manager on Site
- Package Service
- Maintenance on site
About 8740 WESTHEIMER RD , HOUSTON, TX 77063
The Preserve Piney Point is a 144-unit multifamily infill asset located just 10 minutes west of the Houston Galleria. The property was built in 1978 and renovated in 2014 & 2015. The property offers spacious one and two-bedroom floorplans ranging from 793 to 1,045 square feet. A majority (114) of the units have been renovated. The renovations include black appliances, new cabinets, countertops, lighting package, flooring, hardware and fixtures. Units also feature vaulted ceilings, walk-in closets, wood burning fireplaces, and balconies / patios. Conveniently located on Westheimer Rd., the property benefits from an average daily traffic count of 63,000 vehicles. Residents are 3 miles west of the Galleria / Uptown District. The property is surrounded by some of Houston’s largest job centers: Greenway Plaza Financial District, Uptown/Galleria Financial District, Westchase Financial District, and Town & Country Village, and City Centre. The area offers an abundance of retail centers such as: The Galleria (3.6 miles), Town & Country Village (4.7 miles), City Centre (5.1 miles) , and Memorial City Mall (4.0 miles). Additional shopping conveniences include Walmart (0.47 miles), HEB Grocery (2.14 miles), Whole Foods Market (1.47 miles), Target (0.33 miles), and Randall’s Grocery (1.05 miles)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 64 | - | 793 - 962 |
| 2+1 | 36 | - | 962 - 1,045 |
| 2+2 | 44 | - | 1,045 |
Property Taxes
| Parcel Number | 0410280030024 | Improvements Assessment | $3,450,646 |
| Land Assessment | $10,725,420 | Total Assessment | $14,176,066 |
Property Taxes
