Multi-Housing

Parc at 505

505 Cypress Station Dr Houston, Texas United States 77090
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Confidentiality Agreement Teaser
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1977
Building Area
Occupancy 86.0 %

Property Description

Parc at 505 is a 484-unit, Class B multi-housing community with a convenient, easily accessible location in North Houston. The low-density, garden-style asset was originally constructed in 1977 and spans more than 25 acres one-half mile west of Interstate 45. The surrounding area includes prototypical demographics that support workforce, rental product. Parc at 505 offers the opportunity to improve unit interiors and increase occupancy to generate stable cash flow with outsized returns. It is available on an All Cash basis.

Investment Highlights

  • Ultra-low density, large site with abundant, park-like greenspace
  • Well-maintained with little to no deferred maintenance
  • Diversified unit mix that include lofts and townhome-style options
  • 53% 2B and 3B floor plans
  • Amenities include three swimming pools and standalone fitness center building
  • Operational upside by improving occupancy
  • 342 units (71%) are classic units with white appliances
  • 142 units (29%) have been renovated and are achieving $125 average rent premiums
  • Directly across street from popular Lents Family Park (34.5 acres)
  • 2 minute walk to METRO bus stop and 3 minute drive to Interstate 45
  • Within 5 minutes of HCA Houston Healthcare Northwest (600+ employees)
  • Within 10 minutes HEB, Kroger, and Randalls-anchored retail centers
  • Within 10 minutes of all zoned schools in Spring ISD
  • Within 20 minutes of major employment hubs – North Houston Industrial, The Woodlands, IAH Airport, North Houston District, and Willowbrook
Last Updated Date: 13 Aug 2020
Joey Rippel
Joey Rippel
Senior Director, Capital Markets
License details
#654288
+6531594021
Christopher Young
Senior Director
+6531594021
Interested in this property?
Please fill out the form below.

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.
Last Updated Date: 13 Aug 2020

Do you have any questions?  Visit our FAQ page

View FAQ Page

Trends & Insights

View More

Similar Properties

View more
View listing
Multi-Housing
Marquis Downtown Houston Lofts US - Houston, TX
View listing
Multi-Housing
Marquette at Piney Point US - Houston, TX
View listing
Multi-Housing
Normandy Woods US - Houston, TX
View listing
Multi-Housing
Eclipse US - Houston, TX
View listing
Multi-Housing
Lansbourough US - Houston, TX
View listing
Multi-Housing
Aria at Rollingbrook US - Baytown, TX
View listing
Multi-Housing
Life at Emerald Oaks US - Hitchcock, TX
View listing
Multi-Housing
Hooper Pointe US - Baton Rouge, LA
View listing
Multi-Housing
Parkside at Round Rock US - Round Rock, TX
View listing
Multi-Housing
The Remington US - Killeen, TX
View listing
Multi-Housing
Aspen Heights Corpus Christi US - Corpus Christi, TX
View listing
Multi-Housing
Lake Colony US - Garland, TX
View listing
Multi-Housing
Arlington Hills US - Arlington, TX
View listing
Multi-Housing
Chimney Hill US - Dallas, TX
View listing
Multi-Housing
the Brickyard US - Farmers Branch, TX
View listing
Multi-Housing
Arbors of Carrollton US - Carrollton, TX
View listing
Multi-Housing
Bella Vida at Coyote Ridge 2021 US - Carrollton, TX
View listing
Multi-Housing
Crown Centre (4.8 Acres) US - Lewisville, TX
View listing
Multi-Housing
Vistas on the Park US - Lewisville, TX
View listing
Multi-Housing
Coursey Place US - Baton Rouge, LA
View listing
Multi-Housing
Fountains of Jupiter US - Dallas, TX
View listing
Multi-Housing
HFF-9410-Regent, The US - Baton Rouge, LA
View listing
Multi-Housing
Place du Plantier US - Baton Rouge, LA
View listing
Multi-Housing
Pilot House US - Denver, CO
View listing
Multi-Housing
Loft 9 US - Denver, CO
View listing
Multi-Housing
Student Accommodation Portfolio in Prime Sydney Education Precinct AU - Broadway
View listing
Multi-Housing
49 TN US - Nashville, TN
View listing
Multi-Housing
647 Residences - Charlotte Park US - Nashville, TN

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.

Learn more