多戶型房屋

Life at Emerald Oaks

7440 Tx-6 Hitchcock, 德州 美國 77563
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淨營運收入 淨營運收入 不適用
投資回報率 不適用
叫價 查詢售價
淨營運收入 淨營運收入 不適用
投資回報率 不適用

文件

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我接受保密協議

You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

特點

落成年份 2001
建築面積
土地面積
Number of units 160

物業簡介

The Life at Emerald Oaks is garden-style, low-density multi-housing community in Hitchcock, Texas and is centrally positioned between Houston and Galveston with 20-minute commutes to both destinations. The 2001 vintage, 160-unit asset is immaculate, well-maintained and primed for growth in a barriers-to-entry submarket. It offers a natural pathway to significantly raise income due to the ability to increase rents on legacy LIHTC units that are transitioning market-rate, the continuation of value-add interior renovations and the opportunity boost other income with utility reimbursements and monetization of garage rentals on the converted units. The Life at Emerald Oaks is available on an All Cash basis.

投資亮點

  • Well-maintained, low-density garden-style community with abundant greenspace
  • Strategic unit mix for suburban location with 70% 2B and 3B units
  • 94% average occupancy since 2015
  • 160 detached garages available (1:1 ratio with units)
  • Exiting LIHTC program, completed the Qualified Contract (QC) program, and will complete decontrol period in December 2021
  • 40% of units will be available to convert to market-rate units at end of decontrol period
  • Income-restricted units currently average $220/month lower rents than market-rate units
  • Can add additional revenue with RUBS and garage income on converted units
  • Zoning restrictions in Hitchcock, limited Class A supply in submarket, and no new construction
  • Class A rents have increased 37% since 2015 in submarket
  • #4 ranked submarket in Houston MSA (out of 42) for overall performance, including 10.7% rental rate growth over the past 3 months (annualized)
  • Well-located locally with visibility and accessibility to Hwy 6, primary local thoroughfare with expedient access to local employers, schools and parks
Last Updated Date: 29 Sep 2020
Christopher Young
Christopher Young
Senior Director, Capital Markets
牌照號碼/資料
TX-630674
Joey Rippel
Joey Rippel
Senior Director, Capital Markets
牌照號碼/資料
TX-654288

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Last Updated Date: 29 Sep 2020

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