Luna Bay Townhomes
Fully Occupied with Strong In-Place Rents
Marketing description
Marcus & Millichap is pleased to present a fully stabilized multifamily asset nestled in a quiet residential pocket of Baytown, TX. The property comprises 17 two-bedroom/one-bath units and one spacious three-bedroom/two-bath unit, all recently renovated with modern countertops, stainless steel appliances, and a new roof, significantly reducing near-term capital expenditure for a new owner.
The renovations have positioned the property to achieve competitive in-place rents of $1,350 for the two-bedroom units, with select units at $1,150 presenting clear upside for a new investor to close the gap to market rents. Every unit features a private outdoor patio and in-unit washer and dryer, premium amenities that drive tenant retention and demand. Onsite covered parking provides an additional value-add opportunity through the implementation of parking fees.
This is a compelling opportunity to acquire a stabilized, income-producing asset with immediate cash flow and multiple avenues for value creation, which is ideal for a first-time investor or a seasoned buyer looking to expand their Greater Houston portfolio.
Investment highlights
- Fully stabilized asset achieving competitive market rents through newly renovated units, with additional upside potential through implementation of covered parking fees.
- Renovated units feature modern countertops and stainless steel appliances, while recent property upgrades, including new roofs and insulation, enhance energy efficiency and long-term performance.
- Every unit features in-unit washer and dryers, a premier amenity driving strong tenant demand and retention.
- The property offers an exceptionally strong unit mix consisting of seventeen two-bedroom/one-bath units and one three-bedroom/two-bath unit, supporting broad and consistent tenant demand. Each residence also features a spacious private outdoor patio, providing valuable additional living space that enhances appeal and resident satisfaction.
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