HOUSTON PORTFOLIO

SUMMARY
Our Houston portfolio is comprised of 3 different properties totaling 180 units. These properties include the Bianca, Blanca, and Beatriz apartments. At a purchase price of $54,167/unit this falls below the most recent sale comparables, which allows for a more economical renovation budget.  All properties are strategically located near Interstate 45, providing excellent access to Houston’s major employment centers, shopping and entertainment destinations, and airports.

PROPERTY OVERVIEW
- 180 Units
- Purchase Price: $9.75MM
- Year of Construction: 1962, 1964,1973
- Class C Property

BUSINESS PLAN
- Increasing rents to market rates.
- Recovering utility expenses through RUBS.
- Increase income by converting the offices back to units.
- Full interior renovations on each complex.
- Exterior paint, new signage, and fixing deferred maintenance.