JLL is pleased to present Woodbury Place Apartments, a value-add asset consisting of 286 units located in Corpus Christi, Texas. Given Woodbury Place’s strategic location, strong historic performance and value-add potential, the property is an ideally positioned value enhancement opportunity that we believe will allow a new owner to increase effective rental rates and realize greater potential returns.
Woodbury Place Apartments is poised to take advantage of major income increases. The Property is primed for a full, interior “value-add” renovation package to be implemented. With the Property’s continuously strong historic performance, a new owner could undoubtedly see a great increase in rental rates and return on investment with fully upgraded property interiors.
Woodbury Place Apartments is ideally located near all of Corpus Christi’s major connectors. Texas State Highways 358 and 286, and the nearby Texas State Highway 44 and Interstate 37, which allow direct access to the surrounding Corpus Christi area, including Mustang Island, Padre Island, the petrochemical district and all of the MSA’s tourist employment centers and entertainment hot spots. Nearby entertainment and retail options include Oso Beach Municipal Golf Course (2.8 miles), Swantner Park (2.4 miles), La Palmera (1.9 miles), Oso Bay (5 miles), and the premier real estate along Ocean Drive and Corpus Christi’s fishing bays and ports are less than 1.5 miles away from Woodbury Place Apartments.
- Property located in one of Texas' premier travel destinations, near major connectors and employment centers
- Property recently underwent $1M renovation program to community and unit interiors
- New owner could implement full interior renovation program at higher level of finish-out for greater increase in rental rates
- Continuously strong occupancy, currently at 96.2%
- Post Hurricane Harvey housing market still trying to meet demand, driving housing prices further up and growing renter-by-necessity pool