15414 Kuykendahl Road, Houston, TX 77090
The Vineyard Trace Apartments is a two story, garden-style, apartment community located in the Champions East submarket of Houston, Texas. The asset was built in 1978 and has been owned for over 10 years. Residents enjoy ample amenities which include: two pools, mini-blinds, kitchen pantries, ceiling fans, laundry facilities, patios and balconies and walk-in closets.
Per Owner's status report, currently there are no leasing concessions. Located in Harris County and not the City!
Close to Bush Intercontinental Airport and the new Pinto Business Park, employing 10,000+ new blue collar workers in a planned 1,000,000 square foot distribution center on approximately 1,000 acres.
The property is in generally good condition, but the Broker added $2,000 per unit for upgrades, including new exterior paint, 60-80 units (black appliances, carpet and faux wood flooring), and clubhouse, parking lot striping and repairs.
The existing loan gives poor leverage at this valuation, so the Broker assumed a buyer would get a new loan.
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.