THE OPPORTUNITY
Artisan West offers immense value-add potential, supported by strong submarket fundamentals and higher rents at renovated competitors. Current ownership has addressed deferred maintenance and updated the common areas at the repositioned garden-style community - improving curb appeal, tenancy, and operational efficiencies. Interiors and other income opportunities to increase revenue remain for new ownership.
the property
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8300 Sands Point Dr
Houston, TX 77036
1967
YEAR BUILT
The Opportunity
The Location
The Property
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The Location
Cutt Ableson
Senior Managing Director
Mortgage Banking
+1 (713) 469-4503
cutt.ableson@berkadia.com
TUCKER FAMA
Financial Analyst
+1 (281) 923-3856
tucker.fama@berkadia.com
KYLE WHITNEY
Director
+1 (713) 724-1456
kyle.whitney@berkadia.com
JOEY RIPPEL
Managing Director
+1 (601) 919-5155
joey.rippel@berkadia.com
CHRIS young
Managing Director
+1 (972) 743-5742
chris.young@berkadia.com
JEFFREY SKIPWORTH
Managing Director
+1 (214) 533-3322
jeffrey.skipworth@berkadia.com
TODD MARIX
Senior Managing Director
+1 (713) 826-5979
todd.marix@berkadia.com
CHRIS CURRY
Senior Managing Director
+1 (713) 553-0151
chris.curry@berkadia.com
2229 San Felipe
Suite 1600
Houston, TX 77019
+1 (713) 974-1300
Berkadia.com
houston OFFICE
Investment Sales and Mortgage Banking
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit www.berkadia.com/licensing.
investment summary
Price
Terms
Year Built
Total Acreage
Total Units
Total SF
Avg Unit SF
Avg Rent/Unit
Avg Rent/SF
Occupied
Market
All Cash
1980
16.27
495
398,660
805
$1,023
$1.27
96%
Key Demand Drivers
for Value Appreciation
#1 U.S. metro for population and employment growth (Moody’s Analytics)
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Market Support
for Higher Rents
$313 average higher rents on rent roll for units with more updated finishes on turns
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Revenue Growth Potential
for New Ownership
Full interior value-add available
($100 to $225 premiums)
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Full interior value-add available
($100 to $225 premiums)
Can add washer/dryers to remaining units
with connections ($50 premiums)
Can implement bulk cable/internet contract
($50 net monthly fees)
Can implement CAM fee
Can implement water savings items (low flow toilets)
to decrease operating expenses
Close
Close
Close
$313 average higher rents on rent roll for units
with more updated finishes on turns
10% higher rents at renovated competitors support value-add potential
#1 submarket in Houston for occupancy and T12 rent growth (ADS)
#1 submarket in Houston for lowest % of supply
with concessions (ADS)
6.1% projected rent growth in 2023, ranked #2
in Houston metro (Axiometrics)
#1 U.S. metro for population and employment growth
(Moody’s Analytics)
Convenient access to major highways and regional
employment hubs
326K jobs within five miles and one million jobs
within ten miles
Abundant lifestyle amenities in the immediate area,
including grocery stores, Metro bus stops, and popular neighborhood parks
investment highlights
210
total units
93%
occupied
CARL RASMUSSEN
Associate Director
Mortgage Banking
+1 (713) 469-4514
carl.rasmussen@berkadia.com
Community gallery
Resident clubhouse with kitchen and business center
Two sparkling swimming pools
with lounge seating
Poolside bbq grills
and picnic area
Wi-Fi access throughout clubhouse and pool area
Enclosed pet park
Three laundry facilities
Children's playground
Valet trash service
Open surface parking
Reserved parking available
Perimeter fencing
and controlled access
community amenities
Two-story townhomes
available
Vaulted ceilings*
Solar screens*
Faux wood-style flooring*
White appliances*
Black appliances*
Faux marble countertops*
Resurfaced formica
countertops*
Tile backsplashes*
Updated cabinetry*
Updated hardware
and plumbing fixtures*
Washer/dryer connections*
Private patios and balconies*
apartment home amenities
apartment home gallery
*In select units
TUCKER FAMA
Financial Analyst
+1 (281) 923-3856
tucker.fama@berkadia.com