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

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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 1970
Building Area
Land Area
Number of units 687

Property Description

The Alora and The Ellis are garden-style, workforce housing communities with close-in locations two miles from one another near Houston’s urban core. Both communities offer consistent cash flow and interior value-add opportunities. Current ownership has successfully repositioned the communities and addressed deferred maintenance, allowing new ownership to focus on rent and income optimization. The Alora and Ellis are available together or separately.  

Investment Highlights

  • 100% units with white appliances
  • Increase other income with parking and valet trash fees
  • Add washer/dryer connections
  • Repurpose underutilized clubhouse spaces
  • Renovated comps achieving higher rents
  • Infill locations - 300K+ to 400K+ jobs within five-mile radius
  • No Class A supply in submarket
  • Located in Qualified Opportunity Zone
Last Updated Date: 27 Jul 2020
Joey Rippel
Joey Rippel
Senior Director, Capital Markets
License details
TX-654288
Christopher Young
Christopher Young
Senior Director, Capital Markets
License details
TX-630674

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Last Updated Date: 27 Jul 2020

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