6363 Woodway
Suite 370

Houston, Texas 77057 USA
Ph: 713.783.6262 • Fx: 713.783.6767

912 Capital of Texas Hwy.
Suite 230

Austin, Texas 78746 USA
Ph: 512.610.8000 • Fx: 512.610.8001

Texas Real Estate Brokers License 0393404

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GOOD UPSIDE WITH CONTINUED INTERIOR IMPROVEMENTS
GOOD UPSIDE WITH CONTINUED INTERIOR IMPROVEMENTS
Address:  BELLAIRE WOODS / MONTICELLO SQUARE
5414 ELM AND 5312 CLAREWOOD
HOUSTON, TX 77081

Agent:  Bishale Patel
Units:  223
No Official Asking Price
Description: 

Bellaire Woods & Monticell Square Apartments lie near the border of the Bellaire City Limits and are a possible future land play. The properties are zoned for the prestigious Bellaire High School (in the .50% academically in the U.S.). The trend in this area is to acquire existing older developments and redevelop the sites with high‐end class "A" construction. The properties are within walking distance to multi‐million dollar neighborhoods within the city of Bellaire and are an ideal land bank opportunity given the existing apartments' operating performance, high occupancy levels, and strategic location. The communities have appealing amenities, heavily landscaped grounds and a variety of floor plans to attract a wide base of residents. Bellaire Woods was recently rehabbed and has some updside in the rents, while Monticello has been partially rehabbed and with continured upgrades has excellent upside in the rents. The Properties are 93% occupied as of 10-2017.

  • OFFERING MEMORANDUM
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  • BROKERS DISCLOSURE
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