3602 GARROTT ST APT 20 Houston TX 77006-4451

Partners is pleased to introduce an exceptional investment opportunity - a 20-unit apartment community situated in the highly coveted Montrose submarket, one of Houston's most sought-after rental markets. Over the past year, 3602 Garrott Apartments ("3602 Garrott") has undergone a meticulous transformation, with 16 out of the 20 units receiving comprehensive renovations boasting top-of-the-line finishes.

Each newly renovated unit includes quartz countertops, stainless steel appliances, Nest thermostats, modern PEX piping, new faucets, premium cabinets, and stylish tile backsplashes in both the kitchen and bath. To enhance convenience for tenants and add value to the property, a previously unused rear space on the building's exterior has been ingeniously repurposed to include 6 covered storage units available for tenants to rent and a large open common area that is perfect for a future tenant lounge area. Emphasizing durability and peace of mind, the roof was expertly replaced in 2017 and is accompanied by a transferable 15-year warranty. Residents' lifestyles are further elevated by the inclusion of a newly renovated swimming pool and an on-site laundry room.

With existing rental rates well below the market average and comparable rates of recently leased units in the area, this presents an outstanding opportunity for the new owner to capitalize on the significant potential for increased revenue. Within the past month, management has executed 3 early renewals of existing tenants at higher rents to ensure the property maintains 100% occupancy. 3602 Garrott's location within the historic Montrose neighborhood ensures its long-term stability as an investment and safeguards its value for the future. Don't miss out on this remarkable investment opportunity that combines current luxury living with compelling growth prospects.

• 100% Occupied

• Current Property Management Can Stay In Place

• Recently Renovated Units Will Require Less Future Maintenance

• On-Site Laundry And 6 Newly Added Storage Units Create Additional Income

• Greater Upside Available Through Rental Increases & Renovation Of 4 Units

• High Demand Rental Submarket With One Of The Highest Median Incomes In Houston

• Current Owners Have Invested Nearly $500k In Renovations Since Purchase

• All Units Have Top-Of-The Line Finishes Including Quartz Counter Tops, Nest Thermostats,

And Stainless Steel Appliances

• 16 Of 20 Units Have Been Fully Rehabbed

• No Deferred Maintenance

• Central Montrose Location Offers Quick Access To Downtown, Texas Medical Center, Rice

University, University Of Houston, Museum District, Galleria, And Much More.

• Property Is Not In A Flood Zone And Has Never Flooded

Marcus & Millichap is pleased to present a stabilized multifamily asset located in one of Houston's most desirable submarkets, Montrose.​ The property features 20 one-bedroom, one-bathroom units, each offering spacious layouts and walk-in closets.​ 16 of the 20 units have already been fully renovated, giving a new owner the opportunity to apply the same upgrade package to the remaining four units and capture additional rent premiums.​ Recent improvements include quartz countertops, updated appliances, and durable slate flooring throughout.​

Current ownership has already implemented a comprehensive RUBS program, along with additional income streams from pet fees, laundry, and storage.​ This structure allows a new investor to step into existing ancillary revenue without the operational challenges of introducing new charges to an established tenant base.​ There is additional value-add potential for a new investor, as each unit includes two walk-in closets, one of which can easily be converted to accommodate washer and dryer connections.​ This allows for the addition of in-unit laundry across all units, creating an opportunity to capture further rental premiums.​

The community offers several on-site amenities , including 6 storage facilities, a laundry room, and a swimming pool.​ These features enhance the resident experience and support strong tenant retention.​

Strategically positioned in the highly sought-after Montrose neighborhood, the property offers immediate access to Houston's major employment and cultural centers, including downtown, the Medical Center, and nearby institutions such as the University of St.​ Thomas, Rice University, and the University of Houston.​

This offering represents a rare opportunity to acquire a renovated, income-producing asset in one of Houston's strongest and most resilient rental markets.​

• ​Stabilized asset in one of Houston's most prime submarkets.
• ​16 of the 20 units have been fully renovated, featuring quartz countertops, upgraded appliances, and durable slate flooring throughout.
• ​Centrally located near downtown, the Medical Center, and major institutions including St. Thomas, Rice University, and the University of Houston.
• ​Six onsite storage units with only one currently leased, offering a straightforward value-add opportunity for a new owner to activate and monetize the remaining units.
• ​Opportunity to add in-unit washer/dryer connections across all units, creating a meaningful rent-premium upside and enhancing overall marketability for future residents.
• ​The property is located on a quiet street in the heart of Montrose and is within walking distance of the premier restaurants and retail along Westheimer Road.