WINSOME LANE FOURPLEX & VAL VERDE DUPLEX
5916 Winsome Lane, Houston, TX 77057
HIGHLY MOTIVATED OWNER! The 5916 Winsome (a fourplex) and 5901 Val Verde (a duplex), are both one story, spacious, multi-family homes located in the Galleria area of Houston, Texas. The assets were originally built in 1967 and 1968, respectively and are nestled in between Fountainview and Chimney Rock. Interiors are in good condition. Both properties need minor upgrades.
Many older area properties in this highly desireable area are being purchased to demolish and build new construction. Three and four story townhomes and condos are being built on the generous over-sized lots that once housed one-story single family residences or one-story duplex or fourplex structures. Per the owner there was no flooding or loss of power during Hurricane Harvey and its aftermath, Tropical Storm Harvey. The owner stated that this area has not flooded or lost power during any of the storms over the last 50 years!
A purchaser may wish to view this opportunity as a covered land play. The Winsome lot has 21,547 square feet and the Val Verde lot has 10,774 square feet, both per HCAD. The existing rents are VERY low in comparison to area rental comps. There is tremendous upside in rental income with minor upgrades. A water RUBS can also be implemented for additional income.
The property is offered at a "Market" price. There is no asking price.
The owner prefers to not alarm the tenants of a proposed sale, so please do not disturb the tenants
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.