Louetta Creek | 18620 Louetta Creek Dr
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Louetta Creek 18620 Louetta Creek Dr
44 Unit Apartment Building For Sale Spring, TX 77388
Investment Highlights
- 44 unit, newly constructed duplex community in Spring, TX, just 26 miles north of Houston, TX.
- The property is in the highly rated Klein ISD (Rated 89/100 by the Texas Education Agency).
- Boost income with new valet trash and internet charges started by the current owner.
- Located off I-45 with access to shopping, entertainment, and the major job centers of Houston and the Woodlands.
- Opportunity to increase rents with the in place rents 18% below the competitive set.
- Monthly rents are a $1,221 discount to the cost of ownership in the area, which equates to a staggering 58% discount.
Executive Summary
Louetta Creek is a 22 building, 44 unit, single plat build-for-rent community in the Spring submarket of Houston,TX. This high growth market offer renters a best-in-class, single-family living experience with exceptional connectivity to nearby retail, entertainment, high quality schools, and employment drivers. The residences consist of 3-4 bedroom homes, with large floor plans (1,891 Avg SF), high end
finishes and attached garages. The development is newly completed and now stabilized. The property offers investors a unique opportunity to acquire a build-for-rent community in one of Houston’s most desirable submarkets from highly reputable developer.
- Unique opportunity to acquire a high-quality BFR property in the nation’s 4th largest city
- 44 units in a high-growth suburban location
- The community is fully built and stabilized with rent upside
- Demonstrated discount of rent vs. own
- Limited supply of competitive rentals in market
- Seasonally-adjusted BFR/SFR rent growth on new leases has maintained over 10% growth over the last 4 quarters, with supply-side constraints supporting higher forward looking projected growth vs. traditional multifamily
finishes and attached garages. The development is newly completed and now stabilized. The property offers investors a unique opportunity to acquire a build-for-rent community in one of Houston’s most desirable submarkets from highly reputable developer.
- Unique opportunity to acquire a high-quality BFR property in the nation’s 4th largest city
- 44 units in a high-growth suburban location
- The community is fully built and stabilized with rent upside
- Demonstrated discount of rent vs. own
- Limited supply of competitive rentals in market
- Seasonally-adjusted BFR/SFR rent growth on new leases has maintained over 10% growth over the last 4 quarters, with supply-side constraints supporting higher forward looking projected growth vs. traditional multifamily
Property Facts
| Sale Type | Investment | Lot Size | 4.09 AC |
| No. Units | 44 | Building Size | 83,218 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2022 |
| Apartment Style | Single Family Home | Parking Ratio | 1.05/1,000 SF |
| Building Class | B |
| Sale Type | Investment |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Building Class | B |
| Lot Size | 4.09 AC |
| Building Size | 83,218 SF |
| No. Stories | 2 |
| Year Built | 2022 |
| Parking Ratio | 1.05/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Carpet
Site Amenities
- 24 Hour Access
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 22 | - | 1,715 |
| 4+3 | 22 | - | 2,146 |
PROPERTY TAXES
| Parcel Number | 1391000010001 | Improvements Assessment | $7,487,125 |
| Land Assessment | $1,783,780 | Total Assessment | $9,270,905 |
PROPERTY TAXES
Parcel Number
1391000010001
Land Assessment
$1,783,780
Improvements Assessment
$7,487,125
Total Assessment
$9,270,905
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Louetta Creek | 18620 Louetta Creek Dr
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