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Buy&Hold (MULTIFAMILY): (478 UNITS) 12000 MARTIN LUTHER KING BLVD, HOUSTON, TX + $28,200,000

Multifamily Investment Opportunity










Price

$28,200,000


🌟 OFF-MARKET VALUE-ADD OPPORTUNITY

🏢 The Villas at Sandrock |

12000 Martin Luther King Blvd, Houston, TX 77048


💰 Asking Price: $28,200,000 | ⚡️ Seller is Ready for a Quick Close


🔑 Overview


Promiseland Realty presents a rare chance to reposition a major multifamily asset in Houston’s South Acres–Crestmont Park community. The Villas at Sandrock is a 478-unit apartment community currently 68.19% physically occupied, showing strong upward momentum under a returning property manager who previously maintained 95%+ occupancy.


🧾 Updated Financial Snapshot (Jan 2025)


🏗️ CapEx & Expansion Opportunity

From past expenditures to current rehab needs, this property is primed for an experienced investor to finish what’s been started:


  • 💸 $6.7M+ Capital Previously Spent – Including $2.3M on interiors, $1.7M on exterior carpentry, and $882K on roofing​

  • 🧱 $1M–$2M Still Needed, mostly interior finishes

  • 🔧 Unit repair costs range from $5K–$15K each

  • 🏗️ Development Pad On-Site: Space to add 10–12 new units on a previously fire-damaged section


🛠️ Renovation Status (Nov 2024)

  • 🚧 Over 25 units actively under renovation

  • 🏠 Multiple units already pre-leased through PSH partnerships

  • 🟢 20+ units already rent-ready and occupied

  • ⚙️ Renovations include appliance installs, HVAC upgrades, flooring, and paint​


📍 Property Highlights

  • 🛏️ Unit Mix: 1BR – 4BR layouts

  • 🌳 Courtyards, playgrounds, on-site laundry & office

  • 🛎️ Staffed management & patrol security

  • 🛣️ Proximity to Hobby Airport, downtown, and NRG Stadium

  • 📚 Located in Houston ISD zone


📈 Investment Upside

  • 🔧 Immediate Value-Add: Finish light-interior renovations and stabilize rents

  • 📊 Rent Growth: Actual rents trail market by 7.5%—room for NOI uplift

  • 🏗️ Expand Footprint: Add up to a dozen new units on pad site

  • 🔄 Operational Momentum: Experienced manager back on site, occupancy trending up


🔒 Private Offering Details

This deal is not on the market. Seller is distressed and seeking a qualified buyer who can close fast.


📧 Submit serious offers or inquiries to:📩 investments@promiselandrealtyllc.com


🚫 TEAM PROMISELAND NOTICE

Only authorized members or approved partners may market this asset. Unauthorized use of listing details will incur a $1000 fee. Join TEAM PROMISELAND to gain access to over $100B in inventory nationwide 🌎.




"THE #1 SOURCE FOR OFF MARKET INVESTMENT PROPERTIES IN AMERICA"




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. 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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