The Opportunity
The Location
The Property
Contact
Doc Center
Privacy
Terms of Use
3 of 3
2 of 3
1 of 3
Revenue Growth Potential for New Ownership
13 units are in classic condition with mostly original finishes and white appliances
21 upgraded units have not yet been charged renovation premiums or market rates
Pet deposits, pet fees, and parking rent are not fully charged
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.
© 2024 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 Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
contact us
CARL RASMUSSEN
Associate Director
Mortgage Banking(713) 469-4514carl.rasmussen@berkadia.com
kyle whitney
Director(713) 724-1456kyle.whitney@berkadia.com
TX CRE #658451
jed dalton
Senior Financial Analyst(832) 314-5078jed.dalton@berkadia.com
joey rippel
Managing Director(601) 919-5155joey.rippel@berkadia.com
TX CRE #654288
chris young
Managing Director(972) 743-5742chris.young@berkadia.com
TX CRE #630674
jeffrey skipworth
Managing Director(214) 553-3322jeffrey.skipworth@berkadia.com
TX CRE #560404
chris curry
Senior Managing Director(713) 553-0151chris.curry@berkadia.com
TX CRE #566750
investment sales and mortgage banking
houston, tx office
2229 San Felipe, Ste 1600
Houston, TX 77019(713) 974-1300 | Berkadia.com
Visit
Doc
Center
unit gallery and amenities
community gallery and amenities
Community Amenities
Updated leasing office and model
Swimming pool
Poolside loungers and tables
Covered wooden pergola
Open greenspaces
Assigned parking spaces
Covered parking spaces available
Perimeter fencing and controlled access
tucker fama
Financial Analyst(281) 923-3856tucker.fama@berkadia.com
KELLY WITHERSPOON
Senior Managing Director(512) 968-1989kelly.witherspoon@berkadia.com
TX CRE #506184
jed dalton
Senior Financial Analyst(832) 314-5078jed.dalton@berkadia.com
TX CRE #787068
community
apartment homes
10901 Village Bend Lane | Houston, TX 77072
WILCREST ARBOR
townhomes
Price
Terms
Year Built
Year Renovated
Total Acreage
Total Units
Total SF
Avg Unit SF
Avg Rent/Unit
Avg Rent/SF
Occupied
Market
All Cash
1984
2022
5.81
118
145,207
1,231
$1,240
$1.01
94%*
Townhomes is a best-in-class, built-to-rent community in a popular rental corridor of Southwest Houston. It is a visible and easily accessible asset with attractive curb appeal, an excellent reputation in the market, and well-positioned for long-term value appreciation.
The low-density community is comprised almost entirely of spacious 2B/2B patio townhomes (with one 3B/3B floor plan) and has consistent cash flow with strong retention rates. It offers minimal deferred maintenance and is primed for new ownership to increase rental income with multiple avenues for value-add.
the Opportunity
investment highlights
Market Support for Higher Rents
Key Demand Drivers for Value Appreciation
the location
the property
Unit Amenities
100% patio townhomes with 2 entrances
8-foot ceilings
Built-in bookcases
Fireplaces in select units
Stainless steel appliances in most units
Granite countertops in most units
Separate utility rooms
Full-size washer/dryer connections
Washer/dryers can be added to all units (100% full-size connections)
Reserved and covered parking spaces can be added
Bulk cable/internet package can be implemented
No new multifamily construction within four miles
Positioned in Alief, the #1 submarket for rent growth in Houston in 2023, #1 projected for 2024, and #2 projected for 2025 to 2028
One of few 100% townhome communities in submarket with average unit sizes well above market
95% average occupancy for last ten years with 54% rent growth over the same timeframe
Minimal deferred maintenance with major capex items already addressed
Minutes from Beltway 8 with 236K jobs within five miles
Visibility to 22K cars daily on Wilcrest Dr
Walking distance to five grocery stores within one mile
Walking distance to Metro bus stops for three routes and an Alief ISD bus stop
Positioned between two large neighborhood parks
* Two units are utilized as a leasing office/model and a maintenance shop. The property is 96% occupied of available units.