In this video, we will be giving you a summary of our new equation in Houston Texas - a 180 unit Class A property -
150 units built in 2018 and will be updated to bring rent up between 125 for 1 bedroom and to 380 per unit for 2 bedrooms
Park45 is a 180-unit, newly built multifamily community located in the affluent Spring submarket. With 150 units built in 2018, and an additional 30 units built in 2021. While Park45 has no deferred maintenance, it entails an opportunity to modernize and upgrade the amenities and unit interiors to better compete with some of the top properties in the submarket.
Phase II offers an upgraded finishes package that includes SS appliances, backsplash, larger kitchen cabinets, granite in the bathrooms, and undermount sinks. The sponsor renovation program will include those upgrades, as well as upgraded bathroom finishes, upgraded lighting package, USB outlets, two tone paint, fenced yards in selected units, and more. The exterior and amenities upgrade will include a mature landscaping, carports, pool upgrade, BBQ lounge, upgraded gym and clubhouse.
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