The Glenview Apartments is a two story garden style apartment community located in the U of H/I-45 South submarket of SE Houston, TX in the Meadowbrook-Allendale neighborhood. The "All Bills Paid" asset was constructed in 1955 and per HCAD, underwent some renovation.
Prime Location: Situated in SE Houston, offering easy access to major highways I-45 and Loop 610.
Excellent Connectivity: Only minutes from William P. Hobby Airport, enhancing travel convenience.
High Occupancy Rate: Currently 94% occupied; preleased to 96%, reflecting strong tenant demand.
Versatile Unit Options: 202 units with floor plans ranging from efficiencies to 4-bedroom units.
All Bills Paid Model: Individually metered units; however ABP is popular for current tenant profile, simplifying living expenses and boosting appeal.
Upgraded Units with Premium Rent: Six units remodeled for a $200/month rent increase; 10 units with upgraded flooring offer a $50 increase.
Additional Income Opportunities:
Increase reserved parking income
Charge monthly pet fees
Add covered parking
Potential to add washer/dryer connections
Foundation in place for future storage or additional units
No laundry service contract
Valet trash service
Cost-Effective Utilities: Water-saving upgrades can further reduce water expenses by 50%.
Well-Maintained Infrastructure: Recent stairwell replacements, updated boilers, and 14-year old roofs.
Secure Community: 32 surveillance cameras enhance safety and peace of mind. Gated parking and off-street parking available to tenants.
Strong Rental Market: Located in a rapidly growing area with rising rental rates, enhancing investment value.
Financial Upside: Value-add opportunities, including continued upgrades and operational efficiencies.
Habitability Certification: Recently passed habitability inspections, ensuring compliance and tenant satisfaction.
Attractive Investment Potential: Market-proven rental income with future growth potential in Houston’s expanding economy.