2851 Wallingford Dr
Houston, TX 77042
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
1981
6.75
182
162,790
894
$970
$1.07
76%
Revenue Growth Potential for New Ownership
- Can update all units to a consistent, modern standard
- Can add washer/dryers to all units (100% connections and no machines)
- Can add amenities by repurposing underutilized or offline amenity areas
- Can increase parking income with repairs (carports) and restriping (reserved spaces)
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market support for higher rents
- Fully renovated peers average 94% occupancy and $100+ higher rents
- Positive lease traffic, activity, and trade outs last Fall support better performance in future
- $255 rent gap with average Class B rent in the submarket
- Zero new supply submarket
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key demand drivers for value appreciation
- Positioned in best grocery store corridor in West Houston
- Walking distance to public transportation and quick access to multiple major freeways
- Walking distance to five miles of paved walking trails and highly anticipated, new neighborhood park (Camden Park) under construction
- Healthy job corridor (98K jobs within three miles and 300K jobs
within five miles)
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the location
the property
community gallery and amenities
community
community amenities
- Beautiful landscaped grounds with mature oak trees
- Leasing office with coffee bar
- Refreshing swimming pool
- Trelissed poolside grilling area with patio seating
- Carports available
- Open surface parking available
- Reserved surface parking available
- Gated with controlled access
unit gallery and amenities
apartment homes
unit amenities
- Townhomes available
- Brown or grey vinyl wood-style flooring
in select units
- Formica or resurfaced countertops
- Black/stainless steel appliances in select units
- Repainted kitchen cabinets
with new pulls in select units
- Ceiling fans
- Washer/dryer connections
- Private patios and balconies
contact us
investment sales and mortgage banking
jed dalton
Senior Financial Analyst
(832) 314-5078
jed.dalton@berkadia.com
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.
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