Location: 12211 Fondren Rd, Houston, Texas - 77035
Year Built: 1984
Seller: L&L Management
Acquisition Date: May 16, 2018
Investment & Highlights
According to Costar Analytics, effective rents in the market have grown by nearly 30% since 2010 on a cumulative basis, equating to an average annual growth rate of about 3%. This is a result of the strong demand for workforce housing in the Houston metro.
The asset is conveniently located in an area that provides immediate access to Texas’s most prominent thoroughfares and economic/employment sectors, including:
- HWY 90 ALT: Efficient interstate running east-west which feeds into Houston Metro
- Sam Houston Toll Way: Extensive toll-road that circles the perimeter of the Houston MSA.
- Strong Employment Sector with 20 Fortune 500 HQs and/or Regional Offices within 15 miles.