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- LoopNet Team
13826 Cullen
Houston, TX 77047
13.98 Acres of Land · Land For Sale
·
14.00 AC
INVESTMENT HIGHLIGHTS
- Permits Issued, Shovel Ready 336 Unit Apartment Development
- Begin construction immediately.
PROPERTY FACTS
DESCRIPTION
Opportunity to acquire a Fully PERMITTED, shovel-ready development consisting of 336 units of workforce housing garden-style apartments. The development is situated on 13.98 acres (609,000 square feet) of contiguous land with close to 800 feet of frontage on the prestigious Cullen Road. Designed by renowned architecture firm eStudio, this 336-unit community has been value-engineered to provide the latest in Multi-Family design and efficiency. Operating assumptions include $1.70 PSF rents, 95% submarket occupancy, and a relatively short lease-up period. The site is compelling given its proximity to Houston’s major freeways (Beltway-8 and HWY 28) connecting to the Central Business District, the Texas Medical Center, and industrial fulfillment centers. Located in the ETJ of the City of Houston.
