DEL MAR APARTMENTS

10919 Gulf Frwy, Houston, TX 77034

Specifications

Property Type: 
Garden/Low Rise
Class: 
B
Year: 
1978
Units: 
544
Rentable Sq. Ft.: 
413,456
Lot Size: 
18.28 acres
Listing Type: 
Status: 

Del Mar is a "B-" apartment community in an area of south Houston that is undergoing revitalization. There should be Upside Potential with continued property improvements. The property is Available "all cash" ~ No Owner Financing.

The property is a unique opportunity for an investor to purchase a property on over 18 acres of land fronting the well traveled I-45 (Gulf Freeway) that has proven upside in revenue with interior upgrades. The property's market rents appear to be well below properties in the area that have had some type of upgrade performed.

Del Mar has ingress and egress on the I-45 feeder road allowing for good drive-by traffic to the community. The property sits just south of the 610 Loop (the first loop around the city of Houston). Its location just off the I-45 feeder allows for good access to most of the city and other major arteries of Houston. A public bus stop is within walking distance putting numerous conveniences within a short commute including HCC, Almeda Shopping Mall, restaurants, parks and many of downtown Houston's premier Employment centers including the Downtown Houston (CBD), University of Houston, Texas Medical Center, Pasadena's enormous Industrial complexes and the many small industrial facilities spotted throughout Pasadena and South Houston.

Supporting Documents
Private

Tom Wilkinson

Location: 
Houston, TX
twilk4.ketent@gmail.com
Office: 
713-355-4646 x 102
Fax: 
713-355-4331

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.

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