INVERNESS GARDENS APARTMENTS
1300 E James Ave., Baytown, TX 77520
The Inverness Gardens Apartments, formerly known as Baywood, is a two story, garden-style, apartment community located in the Baytown submarket, east of Houston. The asset was built in 1960. Residents enjoy ample amenities which include: mini-blinds, kitchen pantries, ceiling fans, laundry facilities, patios and balconies.
Baytown per ADS saw a 13% rent growth in 2019, making it one of the strongest markets in Texas. The rent growth has occurred due to extensive Petrochemical plant expansions (Exxon, Chevron, and others), as well as the Houston Ship Channel to the south of Baytown.
Exxon is reportedly added 14,000 construction jobs and the Houston Ship Channel is reporting that they will expand by both 100,000 construction and then 100,000 permanent jobs to accommodate, among other things, the expansion of the second Panama Canal. The Houston Ship Channel is an ocean going port and one of the largest ports in the world.
Owner reports he has spent $60K in Capital Improvements.
Baytown has recently tightened zoning for apartments, to limit multifamily growth!
Hashir Saleem is a licensed Texas Real Estate Broker involved in real estate marketing services for institutional and individual investors. Hashir holds a B.S. in Industrial Engineering from the University of Houston and an MBA from Rice University's Jones Graduate School of Business.