1660 RICHMOND AVENUE
1660 Richmond Ave., Houston, TX 77006
THIS IS AN OFF-MARKET LISTING
The 1660 Richmond Apartments, is a two story, garden-style, apartment community located in the Montrose submarket of Houston,Texas. The asset was built in 1970 and has been rehabbed. Residents enjoy ample amenities which include: mini-blinds, kitchen pantries, ceiling fans, laundry facilities, built-ins, patios and balconies. Currently there are no reported leasing concessions.
Nestled in a quiet, established, residential neighborhood with an abundance of old oak trees and yesteryear charm, in the Neartown-Montrose neighborhood, residents enjoy a shared laundry facility, open covered parking spaces as well as street parking at the corner of Dunlavy and Richmond.
The area tenant profile is predominately young professionals with income above the average Houston Metro income level. Residents enjoy close proximity to the University of St. Thomas, the Museum of Fine Arts, the Houston Museum of Natural Science, Rothko Chapel, the Houston Zoo, the Texas Medical Center and Downtown Houston.
Seller has updated a few units and says all efficiencies can be updated to 1-BR units. Two units were updated at $26,000 and $32,000 respectively. The brokers think this can be reduced. 50% of the roofs were replaced in the last 18 months, per owner, and the others were repaired.
Tom Wilkinson has performed real estate marketing serves for institutional and individual investors since 1972. He has a BA in Mathematics from Rice University and an MBA in Real Estate Investments from the University of Texas. In addition to brokering real estate, Tom previously owned and operated more than 80 properties. Tom has successfully marketed properties for and to dozens of individual, business and institutional sellers and buyers, including REO properties for the RTC, FNMA and FreddieMac.