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32304710
32304709

2257 Millstone Drive, Houston, TX 77073

PK
TX 775364
CBRE Group Inc.
JW
TX 769890
CBRE Group Inc.
CBRE Group Inc.
CBRE
CBRE Group Inc.
CBRE Group Inc.
CBRE Group Inc.
CBRE Group Inc.
Listed by CBRE Group Inc., CBRE
Unpriced
29 days on market
Updated 23 days ago

Kelkind Manor Apartments

Details
APN 1166160000001,1166160000003
Property Type Multifamily
Sub Type Apartment Building
Square Footage 81,360
Net Rentable (SqFt) 81,360
Units 72
Occupancy 93%
Class B
Year Built 1984
Buildings 18
Acreage 3.920
Parking Spaces 144 spaces
Parking Per SqFt 1.77
Investment Type Value Add
Occupancy Date 04/15/2026

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

Listing Contacts

PK
TX 775364
CBRE Group Inc.
JW
TX 769890
CBRE Group Inc.
CBRE Group Inc.
CBRE
CBRE Group Inc.
CBRE Group Inc.
CBRE Group Inc.
CBRE Group Inc.
Listed by CBRE Group Inc., CBRE

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Additional Information

Name
Philip Kerr
License
775364
Brokerage Phone
713-620-0345
Name
Jimmy Winston
License
769890
Brokerage
CBRE
Brokerage Phone
7132983237
Title
Analyst
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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