Multifamily Investment Opportunity





Price
$149,000,000
Off-Market Portfolio Opportunity: $149M Multifamily Portfolio in Greater Greenspoint & Northwest Houston, TX
We are excited to present this exclusive off-market portfolio featuring four Class B and C multifamily properties located in key Houston submarkets. This portfolio includes stabilized and value-add assets, offering strong cash flow and future appreciation potential for discerning investors.
Portfolio Overview:
Excelsior on the Park, 14300 Ella Blvd, Greater Greenspoint, Houston, TX
Units: 200 Class C units
Year Built: 1983
Status: Stabilized with light renovations completed (65% of units renovated)
Average Unit Size: 987 sq. ft.
In-Place Rent: $1,081/unit
Asking Price: $131,250 per door (~$26,250,000)
Stabilized NOI: $1,400,000
The Huntington at Stonefield, 13100 Stonefield Dr, Greater Greenspoint, Houston, TX
Units: 264 Class C units
Year Built: 1984
Status: Stabilized with light renovations completed (65% of units renovated)
Average Unit Size: 811 sq. ft.
In-Place Rent: $975/unit
Asking Price: $131,250 per door (~$34,650,000)
Stabilized NOI: $1,800,000
Summit at Champions, 14365 Cornerstone Village Dr, Northwest Houston, TX
Units: 272 Class B units
Year Built: 1983
Status: Value-add opportunity with ongoing renovations (20% of units renovated)
Average Unit Size: 687 sq. ft.
In-Place Rent: $1,076/unit
Asking Price: $131,250 per door (~$35,700,000)
Stabilized NOI: $1,800,000
The 910 Apartments, 910 Cypress Station Dr, Northwest Houston, TX
Units: 464 Class C units
Year Built: 1979
Status: Value-add opportunity with ongoing renovations (20% of units renovated)
Average Unit Size: 772 sq. ft.
In-Place Rent: $808/unit
Asking Price: $131,250 per door (~$60,900,000)
Stabilized NOI: $3,200,000
Total Asking Price: $149,000,000
Total Units: 1,200 units
Combined NOI: ~$8,200,000
Key Investment Highlights:
Diverse Investment Mix: A balanced portfolio of stabilized Class C assets in Greater Greenspoint and value-add Class B/C assets in Northwest Houston, providing a mix of stabilized cash flow and renovation upside.
Renovation and Value-Add Upside: With 65% of units renovated at Greenspoint and 20% renovated at Northwest Houston, the remaining units offer additional value-add potential to further increase NOI and overall portfolio value.
Desirable Submarket Locations: Situated in high-demand submarkets with proximity to major employers, transit routes, and retail hubs. Submarkets such as Greenspoint and Northwest Houston continue to experience strong rent growth and population expansion.
Financial Metrics:
Cap Rate: To be determined based on occupancy and income stabilization.
Cash-on-Cash Return: Available upon request.
Other Metrics: Detailed financials, rent rolls, and pro forma projections are available to qualified buyers.
Property and Market Highlights:
Excelsior on the Park: Located in Greater Greenspoint, this 200-unit Class C asset is 65% renovated with in-place rents averaging $1,081. Amenities include a business center, swimming pool, children’s play area, and green space.
The Huntington at Stonefield: This 264-unit Class C property in Greater Greenspoint offers a mix of 1- and 2-bedroom units, with in-place rents averaging $975. Amenities include a coffee bar, swimming pool, and on-site laundry facility.
Summit at Champions: A 272-unit Class B property in Northwest Houston, offering 1- and 2-bedroom units, lush landscaping, a fitness center, a swimming pool, and controlled access gates. Approximately 20% of units have been renovated.
The 910 Apartments: A 464-unit Class C property in Northwest Houston, offering affordable rents in a submarket that benefits from strong renter demand and proximity to major employers like ExxonMobil and Hewlett Packard. Renovations are 20% complete, offering significant value-add potential.
Seller Terms:
This seller is not under pressure to sell and expects strong offers with competitive terms. They are willing to engage in discussions with serious buyers who present a strong purchase proposal. The properties are performing well, with increasing occupancy rates and enhanced NOI following renovations.
Required Documents for Additional Information:
For access to additional financials, rent rolls, and other requested information, Proof of Funds (POF), a Letter of Intent (LOI), and a Buyer Bio are required.
Team Promiseland Disclaimer: This opportunity is offered exclusively to verified members of the TEAM PROMISELAND JV partnership program. Please submit all offers directly to investments@promiselandrealtyllc.com. Proof of funds, LOI, and buyer bio are required for consideration. Marketing this deal without permission is strictly prohibited.
Property Location



Please Note: All interested parties must adhere to our standard terms and conditions, including Non-Circumvention and Proof of Funds requirements. This listing may not be marketed unless you are a verified member of TEAM PROMISELAND JV partnership program.
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PROMISE LAND REALTY, LLC
Work: 864-762-2509
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top.
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