Kelkind Manor Apartments
2257 Millstone Drive, Houston, TX 77073
Marketing description
Kelkind Manor Apartments is a 72-unit multifamily community situated within a quiet residential setting near the I-45 corridor in North Houston. The property consists of spacious apartment homes offering an average unit size of 1,130 square feet, with unit features that include washer/dryer hookups, air conditioning, dishwashers, and high-speed internet access.
Community amenities include on-site parking, positioning the property as a practical, residents-first multifamily asset focused on long-term tenancy rather than short-term turnover.
The property is situated in an established residential setting with access to nearby shopping centers and close proximity to parks and everyday services, enhancing resident convenience and retention.
The Kelkind Manor Apartments benefit from strong connectivity to Interstate 45, George Bush Intercontinental Airport, and major North Houston employment centers, supporting consistent workforce housing demand. Its straightforward construction, functional unit layouts, and manageable amenity package allow for efficient operations.
The property offers a compelling 100% value-add opportunity through unit upgrades, with strong potential to achieve higher rents.
Overall, Kelkind Manor Apartments presents an attractive opportunity to acquire a stable, well-located multifamily asset in one of Houston's most durable rental corridors.
Investment highlights
- 1,130 SF average unit size
- 9ft ceiling height on 1st floor; 10ft ceiling height on 2nd floor
- 78% 2BR/2BA
- 100% of the units are 'classic' and can be upgraded to achieve higher rents
- There is available space to add additional community amenities such as a pool, playground and/or leasing office/fitness room.
- Add washer & dryer machines in all units (all units have connections)
- Add private yards to some ground floor units
- Implement bulk WiFi program
- 95.6% average occupancy for 'Class B' properties in the submarket (per ADS)
- $86,698 - average household Income
- $71,199 - median household income
- $260,207 - average home value
- 53.1% - white collar employes population
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