Buy&Hold (Multifamily): (376 Units) Spring, TX + $48,000,000
- Promise Land Realty
- 22 hours ago
- 4 min read
Multifamily Investment Opportunity
Price
$ 48,000,000
OFF-MARKET MULTIFAMILY INVESTMENT OPPORTUNITY
Rayford’s Edge Apartments — Spring, Texas
376 Units | Suburban North Houston
Asking Price: $48,000,000
Submit Offers To: investments@promiselandrealtyllc.com
Promiseland Realty, LLC is pleased to present Rayford’s Edge Apartments, a substantial 376-unit multifamily asset in the high-growth Spring / North Houston submarket. This off-market offering delivers a stable cash flow profile today and significant value-add potential for investors seeking to enhance return through operational and physical improvements.
PROPERTY HIGHLIGHTS
376 total residential units offering a mix of 1- and 2-bedroom floor plans
Professionally managed by an experienced multifamily operator
Located just minutes from The Woodlands, major employers, retail, and transportation via I-45
Strong regional demand drivers with Texas population growth and rental market strength
CURRENT FINANCIAL PERFORMANCE
(Trailing 12 Months through 9/30/25)
Financials:
Income
Gross Potential Rent: ~$5,356,000+ annually
Effective Rental Income: ~$4,500,000+ annually
Total Annual Income (Including Fees & Reimbursements): ~$5.35M+
Revenue includes base rent plus ancillary income sources such as:
Utility reimbursements
Pet rent & fees
Parking and administrative fees
Other ancillary charges
Operating Expenses
Total Expenses: ~$3.0M–$3.1M annually
Expense Ratio: ~56–58%
Expenses include property management, maintenance, utilities, taxes, insurance, payroll, and turnover costs.
Net Operating Income (NOI)
Trailing 12-Month NOI: ~$2.45M – $2.55M annually
VALUATION METRICS
Asking Price: $47,500,000
Price per Unit: ~$126,330
Current Cap Rate: ~5.2% – 5.4%
This strong income base supports competitive valuation while providing room for strategic enhancement.
INVESTMENT HIGHLIGHTS & VALUE-ADD OPPORTUNITIES
Rayford’s Edge presents a compelling cash-flowing investment with multiple defined strategies to drive NOI growth and asset appreciation:
1. Renovation-Driven Rental Upside
Many units have not realized full interior upgrades. A systematic renovation program can:
Modernize units with new flooring, cabinetry, countertops, and appliances
Install smart home technology (keyless entry, thermostats)
Justify meaningful rent premiums and lease velocity
Impact: Rent uplift and higher effective rents per unit.
2. Ancillary Revenue Expansion
Expand non-base rent income through:
Premium parking / covered spaces
Enhanced pet and service fees
Storage rental options
Package or concierge services
Impact: Increased overall income without substantial capital.
3. Utility Billing & Expense Optimization
Adopt submetering and improved RUBS methodologies to more accurately allocate utility costs to tenants and reduce owner burden.
Impact: Reduced expenses and improved NOI.
4. Amenity Enhancements
Investing in community amenities increases resident retention and justifies rent increases:
Updated fitness center
Outdoor social spaces with grills and fire pits
Coworking or business lounge
Impact: Drives higher occupancy and resident satisfaction.
5. Operational Efficiencies
Streamline property operations by:
Modernizing leasing and management tech
Refining vendor contracts
Training and performance improvements
Impact: Reduces controllable expenses and strengthens net returns.
6. Strategic Marketing & Leasing
Rebranding and targeted marketing can:
Increase traffic and conversions
Shorten vacancy cycles
Command stronger lease terms
Impact: Stabilizes and increases occupancy while compressing downtime.
7. Tax Strategy Optimization
Use cost segregation to accelerate depreciation and enhance early-year tax benefits.
Impact: Increases after-tax cash flow and investor IRR.
WHY RAYFORD’S EDGE?
✔ Proven cash flow with professional management
✔ Strong existing NOI with defined paths to growth
✔ Strategic location in a fast-appreciating Texas MSA
✔ Scalable upgrades across physical and operational lines
✔ Attractive unit count for institutional and private equity investors
SUBMIT YOUR OFFER
All offers, financial information requests, and questions should be directed to:
Serious inquiries only — NDA available on request.
Proof of funds required for access.
Submit All Offers & Inquiries Directly To: investments@promiselandrealtyllc.com
This is an off-market solicitation; please do not disturb area occupants or ownership.
Property Map
OFFICIAL PROMISELAND LENDING PARTNER
100% Financing for Rehab Projects
Powered by Residential Capital Partners
ResCap is a direct private lender offering zero-money-down loan options for 1-4 unit residential investment flips & rentals across the U.S.
🔹 100% Financing – Covers purchase + rehab
🔹 Fast Closings – ~10 days
🔹 Credit Requirements – 620+ FICO (Rehab), 660+ FICO (DSCR)
🔹 Loan Size – $75K–$1.25M
🔹 Rates – 10.9%–11.9% | 2–3% origination | 1st lien
🔹 Serviced In-House | Virtual Inspections | No Owner-Occ or Rural Props
Nationwide Coverage (Excludes: AK, AZ, NV, PA)
Proof of Funds Available
This listing is proudly sponsored by Residential Capital Partners – trusted lending for the nation’s best flippers.
For more info email sarter@promiselandrealtyllc.com or text (864) 762-2509
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PROMISELAND DISCLAIMER:
Promiseland Realty LLC is a nationwide real estate consulting firm specializing in off-market investment opportunities, strategic acquisitions, and real estate advisory services.
No one is permitted to market, advertise, or distribute this listing without express written permission or verified membership within the TEAM PROMISELAND network. Unauthorized use or sharing of this opportunity, photos, or property information will result in a $500 fine per incident, enforceable by law.
All off-market properties are sold As-Is, Where-Is. Buyer is responsible for conducting their own due diligence. Properties are conveyed via warranty deed, and Promiseland Realty LLC is selling its assignable contractual interest.
Proof of Funds is required with all offers. Earnest Money Deposit (EMD) is due within 48 hours of an accepted offer. All closings are facilitated through a licensed title company or closing attorney.
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