Multifamily Investment Opportunity
Price
$26,000,000
Exclusive Investment Opportunity: The Villas at Sandrock - 12000 Martin Luther King Blvd, Houston, TX
Nestled in the vibrant South Acres-Crestmont Park neighborhood, just 10 miles south of downtown Houston, The Villas at Sandrock presents a unique investment opportunity for the discerning buyer. This sprawling apartment complex, comprising 478 units with the potential to expand further, sits on a pivotal crossroad of potential and challenge.
Address:Â 12000 Martin Luther King Blvd, Houston, TX 77048
Property Type:Â Multi-Family Apartment Complex
Units:Â 478 (with pad available for an additional 10-16 units)
Current Occupancy:Â 50%
Area:Â Harris County, served by the Houston Independent Attendance Zone
Year Built:Â 1971
Financial Overview:
Net Operating Income (NOI):Â $990,102.49
Total Income:Â $3,379,076.82
Property Photos & Financials: https://www.dropbox.com/scl/fo/myddc83a3jm0fbwa9qxbe/h?rlkey=j39ajutr1omshph8iy5if2y99&e=1&dl=0
Features & Amenities:
Spacious efficiency, one, two, and three-bedroom floorplans
Renovated interiors with laminate flooring, modern appliances, and ceiling fans
On-site laundry, maintenance, and property manager
Planned social activities and night patrol
Landscaped courtyards, air conditioning, heating, and comprehensive utilities included
Despite its current half occupancy and recent challenges, including mismanagement and negative press, The Villas at Sandrock holds immense potential. The return of the manager who previously maintained a 95% occupancy rate, coupled with ongoing investments into the property, marks the beginning of a significant turnaround. The opportunity for rebranding and revitalization is evident, with the additional pad offering space to expand and enhance the complex further.
Investment Highlights:
Value-Add Potential:Â Upgrading units and optimizing tenant mix present substantial upside potential.
Strategic Location:Â Proximity to major highways, Hobby Airport, and NRG Stadium enhances tenant appeal.
Operational Flexibility:Â The buyer has the liberty to select the property management team, potentially reinstating the one that achieved high performance levels.
The Villas at Sandrock represents not just an investment in real estate but a chance to transform and reposition a significant asset in South Houston's landscape. We invite investors to recognize the untapped potential and envision the resurgence that strategic management and investment can bring about.
Additional Resources:
Interested parties are encouraged to direct their offers and inquiries to investments@promiselandrealtyllc.com. This off-market listing offers a rare chance to capitalize on a turnaround project with substantial growth and income potential.
Property Map
"THE #1Â 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.