3045 GOLFCREST BLVD APT 29 Houston TX 77087-2449

Dismuke apartments is a 48-unit multifamily property located at east of I-45 S and inside the 610 loop. The property features efficiency, 1 and 2 bedroom units and consists of five, 2-story brick buildings with flat roofs. This garden style property was built in 1960 and was renovated “studs out” in 2015. The location is in the Lawndale/Wayside area of Houston, near major highways and within proximity to local amenities such as parks, schools, restaurants, and shopping centers.

Golfcrest apartments is a 29-unit multifamily property located at west of I-45 S and inside the 610 loop, walking distance to Gulfgate Mall, which provides access to high quality groceries and retail. The property features efficiency, 1 bedroom units and consists of two, 2-story brick buildings with pitched roofs. This garden style property was built in 1957 and was renovated “studs out” in 2016.

▻ Attractive, low interest rate, assumable Freddie Mac loans in place.

▻ Clean, well-maintained communities which were renovated “studs out” with new plumbing, wiring, roofs, windows, interiors and exteriors in 2016.

▻ The properties have clean interiors; however, there is substantial room for interior upgrade premiums. Market comps show rents are $150 below market.

▻ Management is not currently charging RUBS for water nor gas. Implementing RUBS should provide additional value-add and increase “other income” substantially.

▻ Both properties currently up to date on Life Safety/Habitability and have Certificates of Occupancy.

▻ Fantastic locations with easy access to highways, grocery stores, schools and parks.