Portsmouth Portfolio | Loan Assumption - Approx 20% Down
Prime Montrose / Upper Kirby Location | Assumable Agency Loans
Marketing description
1903 & 1919 Portsmouth are two side by side boutique multifamily communities located in Houston’s sought-after Montrose neighborhood, just minutes from Downtown, the Texas Medical Center, and Midtown. With easy access to Interstate 69 and Highway 59, the properties offer residents exceptional connectivity to major job centers and lifestyle amenities.
The portfolio features 59 total units across two side-by-side properties, with spacious one- and two-bedroom floorplans ranging from 658 to 1,156 square feet. Interiors include granite countertops, tile flooring, crown molding, and select units with private balconies. 1903 Portsmouth is utilities included.
Amenities include gated courtyards, swimming pools, covered parking, and pet-friendly policies with no breed or weight restrictions. Both properties combine vintage charm with modern upgrades in a quiet, low-density setting.
Surrounded by high-income demographics and top-tier retail like Montrose Collective and Whole Foods, the properties benefit from strong tenant demand. With stable income and potential for interior upgrades or repositioning, 1903 & 1919 Portsmouth offer a compelling value-add investment in one of Houston’s premier urban submarkets.
Investment highlights
- Prime Location: Irreplaceable core location in the heart of Houston with immediate access to major employment and lifestyle hubs including Downtown Houston, the Texas Medical Center, The Museum District and Upper Kirby District.
- Value-Add Opportunity: Value-add potential through modest interior and exterior upgrades
- Affluent Tenant Base: Median Household income of $106,000 within a one-mile radius.
- Strong Employment Base: Over 600,000 jobs within a 10-mile radius, driving rental demand.
- Opportunity to Decrease Expenses: Implementation of water saving devices and renegotiation of contract services should make a significant impact to the NOI.
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