About

<h3><b>Collingwood Gardens  </b>is a brick and wood, two story, garden-style, apartment community located in the Greenspoint submarket of northwest Houston with easy access to I-45,  the Hardy Toll Road and Beltway 8.  Originally built as and titled as individual condos, the property is located only a few blocks east of the Greenspoint Mall and approximately one mile west of Bush Intercontinental Airport.  Collingwood Gardens is located in the Tax Increment Reinvestment Zone (TIRZ #11).  This program provides funds for capital improvements and financial incentives for developers to include public amenities in their projects.  The asset enjoys good driveby! The property was built in 1979 and offers a variety of unique floor plan designs.  Amenities include access gates and perimeter fencing, landscaped grounds, clothes care centers,  walk-in closets, patios and balconies, all-electric kitchens with spacious countertops and cabinets, ceiling fans and mini-blinds.  There is convenient school bus pickup.  World-class dining and shopping nearby is nearby, additionally the property is close to premier theatres and entertainment, near area schools and medical facilities.  A possible exit strategy is to sell off the individual units!</h3>
<h3>As of 5/22 current delinquencies total $17,471.06, per Owner.  There are five tenants who have not paid and they are being evicted.  This will eliminate the delinquencies, per Owner. June 2021 collections contained $206,068 in insurance proceeds from the freeze that has been removed from the collections above!</h3>
<h3><b><i>IMPORTANT:</i></b> The operating statements reflect a much lower tax bill than what the 2021 assessment shows!  The tax consultant got the 2021 value down 47% and projects a similar percentage decrease for 2022.  So, the broker suggests deducting 47% from the 2022  proforma taxes.  The property has flooded in the past but extensive flood control work is under way in the area.</h3>