Listed by Theophanes Gaitanaros
Unpriced
Summerstone Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 188,760
Units 242
NOI $1,744,369
Occupancy 97%
Broker Co-Op Yes
Class C
Year Built 1984
Year Renovated 2024
Buildings 25
Stories 3
Acreage 8.170
Investment Type Value Add
Occupancy Date 06/26/2025
Multifamily | 242 Units
Marketing description
Summerstone Apartments – Where Scale Meets Stability in Houston
242 Units | 8+ Acres | Stabilized Asset with Growth Potential
Summerstone Apartments is a premier, garden-style multifamily community located in one of Houston’s strongest rental corridors. Spread across 8.14 acres, this well-maintained 242-unit asset offers a compelling blend of scale, location, and long-term investment upside. The property’s mature landscaping, low-density layout, and well-designed unit mix make it highly attractive to a broad tenant base, from working professionals to families.
Positioned near major highways, retail, employment hubs, and strong school districts, Summerstone benefits from sustained rental demand and limited new competition. With an appealing mix of unit types, strong historical occupancy, and operational consistency, it stands out as a highly marketable asset within the Houston multifamily landscape.
Summerstone Apartments – High-Yield Multifamily Investment Opportunity in Houston, TX
Summerstone Apartments offers investors a rare opportunity to acquire a high-performing, cash-flowing asset in one of Texas’ most resilient and growing markets. With over $3.1 million in annual revenue and an in-place NOI exceeding $1.7 million, this 242-unit property provides immediate yield with scalable upside through strategic enhancements.
Investment highlights
- Strong In-Place Financials:
- Stabilized operations with over $1.7M in NOI and historically high occupancy. Consistent cash flow supported by operational efficiency.
- Large-Scale Asset on 8.14 Acres:
- Rare opportunity to own a high-unit-count property with a low-density layout, offering long-term land value and operational flexibility.
- Rental & Renovation Upside:
- Rents are increased roughly $50 each renewal, providing immediate revenue growth potential. Modernizing Interior and amenity upgrades can further drive NOI and asset value.
- Strategic Houston Location:
- Centrally located with access to major employment hubs, retail corridors, and transportation routes. Houston continues to lead U.S. metros in population and job growth.
- Strong Demographics & Demand Drivers:
- The property serves a growing tenant base of working-class professionals and families in a submarket with rising rents and limited new supply or competition.
- Upside In Management in Place:
- Property is not currently managed by a professional management company, group or organization.
- Increasing Revenue Year over Year (Up 15.15% from 2022 Revenue)
- Opportunity for Value-add through renovation/modernizing the units.
- Not Owned or Managed by Professional/Experienced Multi-Family Group. Family only owns this multi-family asset and manages as well.
- Acquire Growing Population in Houston with booming economy
- SummerStone Apartments is located in a submarket where population/demand continues to grow while supply continues to stay the same.
- Owner signed up with a new Property Insurance Company for $280k per year. Significantly lower than the insurance costs endured in 2023 and 2024.
- 2023 & 2024 NOI is lower than 2025 and moving forward due to higher Property Insurance Costs. The Owner did receive a $465k Property Insurance Refund in 2025 for the years of 2024 and 2023 due to overpayment.
- Location Highlights:
- Located in Southwest Houston in the middle of several major freeways with close access to the Galleria area and Downtown.
- 9301 dairy view lane Houston, tx 77099
- Located in southwest Houston
- 7.5 miles (15 minutes) from George bush international airport (IAH)
- 18 miles (25 min) from downtown Houston
- Houston ranks 5th in the USA of fastest growing cities
- Greater Houston ranks 4th in most populous city in the USA.
Listing Contacts
Listed by Theophanes Gaitanaros
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$1,744,369.00
$145,364.08/mo
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