420 Garland Dr., Lake Jackson, TX 77566
The Shadow Park Apartments are well located just off Hwy 288 (Nolan Ryan Expy) on Garland Drive in Lake Jackson, Tx., which is part of the Houston MSA. The property is in the Brazosport market, a secondary Market to Houston. Houston is approximately 40 miles north of the property. Lake Jackson is home to the Dow Chemical Innovation Center and the Texas Dow Employee Credit Union, Dow is the largest chemical complex in the world. A few of the top employers that are minutes from the property are; Dow Chemical Company, Fluor Corporation, Zachry Group, Phillips 66, BASF Corporation and Excel.
Property Information - 156 units have been rehabbed / upgraded within the last 3 years. The approximate cost of the upgrades performed is $888K. In addition, an exterior rehab was performed as well as upgrading the amenities on the property. The exterior rehab included Parking Lot Repair / Re-Pavement, Solar Screens, Gutter Replacement, Landings/Balconies/Stairs/Fencing Repair or Replacement, Gutter Replacement, Solar Screens, Full Exterior Paint, Plumbing Repairs, Exterior Lighting, Boiler Replacement, Numerous AC Replacements, Landscaping Upgrades and New Signage. Amenity Upgrades include Upgrading the Leasing Center and Clubhouse, Pool area improvements, Fitness Equipment, Adding a Pavilion, Dog Park and Playground Equipment. The cost of the exterior and amenity improvements was approximately 1+ million.
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.