Marquette at Piney Point

Marquette at Piney Point is a highly accessible, close-in Class A multi-housing asset primed for value-creation. Completed in 2004 by Trammell Crow Residential, 90% of its interiors are available to upgrade to current market standards.

It is a hybrid community with three-story garden-style buildings and a four-story mid-rise building on ten acres in West Houston. The institutional-quality asset offers excellent product, floor plan, and parking diversity with broad-based appeal to today’s renters. Marquette at Piney Point is available below replacement cost on an all cash basis.

• Available at an attractive basis to replacement cost
• Signature address, frontage, and valuable visibility to 62,853 cars daily on Westheimer Road
• Controlled ingress and egress, including a traffic light at its intersection with Westheimer Road
• 2.9M SF of retail within 1-mile radius and WalkScore of 64 (compared to Houston avg of 48)
• Within 5 minutes of Aldi, Target, Randalls, and Walmart
• Centrally located between the Galleria (83K+ jobs) and West Houston employment districts (200K+ jobs)
• $86,919 avg household income and $658,650 avg housing value within 3-mile radius
• Limited housing inventory, no shadow rental market, and zero new supply multi-housing submarket
• Rent comparables are averaging 11% higher rents
• Axiometrics projects 4.7% average annual rent growth in 2022 and 2023
• 32 units (10%) have been fully renovated and are averaging 13% rent premiums
• 63% of 3B units, the most occupied unit type at the property with the highest rents, will roll under new ownership with majority available to be renovated
• Potential 37.5% increase in rental income in first year of hold