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2306-2320 McCue Rd - Covered Land Play
2.73 Acres of Residential Land Offered at $28,000,000 in Houston, TX 77056
Investment Highlights
- Phenomenally maintained communities.
- The area has some of the most prestigious luxe condos apartments and office hi-rise buildings in the Houston Area – All within a 5-mile radius.
- Located around the block from Post Oak Boulevard, the target of a city beautification project
- Full-time landscaper, full-time housekeepers, seasonal decorations, hastening replacements and more.
- Located about 19 minutes from Downtown Houston and 25 minutes from William P. Hobby Airport.
Executive Summary
2306 McCue Road, otherwise known as Marquee Uptown, is currently operational as a 58-unit multifamily. 2320 McCue Road, otherwise known as Carriage Square apartments, is currently operational as a 40-unit multifamily. In total, they are comprised of 98 units, all situated on 2.73 acres of land, on two contiguous tax lots. Both properties are currently being looked at as covered land plays and are being sold on that basis. Located in the heart of the Galleria/ Uptown trade area with 187,000+ population with high average household incomes of over $94,000 within a 5-mile radius.
Ownership has phenomenally maintained both communities, as told by the high expense ratio. This includes a full-time landscaper, full-time housekeepers, seasonal decorations, hastening replacements and more.
Property Facts
| Price | $28,000,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| Sale Conditions | Redevelopment Project | Total Lot Size | 2.73 AC |
| No. Lots | 1 |
| Price | $28,000,000 |
| Sale Type | Investment |
| Sale Conditions | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 2.73 AC |
1 Lot Available
Lot
| Price | $28,000,000 | Lot Size | 2.73 AC |
| Price Per AC | $10,256,410 |
| Price | $28,000,000 |
| Price Per AC | $10,256,410 |
| Lot Size | 2.73 AC |
Approximately 2.73 acres with existing operational multifamily properties: Marquee Uptown and Carriage Square Apartments.
Description
2306-2320 McCue Road is located only one block away from Post Oak Boulevard, a six-lane boulevard with a grassy median, passing through lots of high-end residential and commercial buildings. The Boulevard has recently been the beneficiary of an upscale renovation project, including tree-lined medians, attractive “halo-like” chromatic street signs, and even the opening of a new bus lane. The Boulevard provides convenience with regards to transportation, and luxury with regards to living.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,025,546 | |
| Land Assessment | $11,932,400 | Total Assessment | $14,957,946 |
PROPERTY TAXES
zoning
| Zoning Code | Residential |
| Residential |
Presented by
2306-2320 McCue Rd - Covered Land Play
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