WOODRIDGE APARTMENTS

Address:
3414 Woodridge Dr., Houston, Texas 77087
Price:

NO OFFICIAL ASKING PRICE

Price / Unit:
N/A
Price / Square Foot:
N/A
Number of Units:
23
Avg Sq. Ft. / Unit:
613
Class:
"C-" Property
Type:
1965 CONSTRUCTED, 2 STORY APARTMENT COMMUNITY
Broker / Agent:

Description:

INVESTMENT INFORMATION:
 
1) Located in the Golfcrest / Bellfort / Reveille area of Southeast Houston, Tx. in the county of Harris. The area is one of Houston's Super Neighborhoods areas and is undergoing gentrification. It is made up of largely hispanic housholds. Many small industrial facilities are located near Long Drive in the western part of the community. Its location is just outside loop 610, the first Loop around the city of Houston. The area is largely made up of homes dating from the suburban development after World War II. Many of the more expensive homes were built on heavily wooded sites adjacent to Sims Bayou. Aproximately 75% of the population in the area are renters. The rental occupancy in the area is above the average for the city of Houston.
 
2) The property is highly upgradeable. A new owner could add covered parking and washer and dryer connections for additional income. Currently the owner owns the washers and dryers in the laundry room, there is no laundry contract. The laundry room consists of 3-front load washers and 2 stacked dryers. Since 2008 the roofs and the AC's have been replaced.
 
3) It is the broker's opinion, that with interior and exterior upgrades and the correction of deferred maintenance, the property could see upside in the rents (the rents are well below properties in the area that have been upgraded).
 

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