CYPRESS LAKE,
HOUSTON

PROPERTY INFORMATION

  • Houston, Texas
  • 216 Unit
  • Built 1995
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SUMMARY
  • Project Size: $23,300,000
  • Equity: $8,500,000
  • Loan: $14,800,000
LOCATION HIGHLIGHTS
  • Located in the North Houston district at the intersection of I-45 N & the North Sam Houston Parkway (Beltway 8 North), just 6 miles from Bush Intercontinental Airport.
  • Hewlett Packard is relocating from Silicon Valley to just minutes north of Cypress Lake
  • The North Houston district is host to over 68K employees and a home for some of Houston’s most prominent companies such as Coca-Cola, Amazon, Schlumberger, Baker Hughes, Amazon, Sysco, and Nabors.
  • Close to Pinto Business Park, which is a 971- acre industrial park. Amazon opened its 855,000 SF fulfillment center in July 2017 (~2,500 employees)
  • Major Tenants include: Coca-Cola, Amazon, Alfa Laval, HD Supply Facilities, and Red Bull
  • Coca-Cola Southwest Beverages completed a ~1 million SF production and distribution facility worth $250MM.
PROPERTY HIGHLIGHTS
  • 216 Units
  • 1995 Year of Construction
  • 951 Average sf per Unit
  • $1,062 Average Rent perUnit
  • 95% Occupied
  • Pitched Composition Roofs
  • Good floor plan mix of 1,2 & 3 BedroomUnits, Individual HVAC Units
  • Individual Hot Water Heaters
  • Washer/Dryer machines in all units
  • Brick and Hardi Siding Exterior
  • 9 foot ceilings
BUSINESS PLAN
  • Increase Rental Income
  • Increase Other Income
  • Reduce Expenses
  • Property Enhancements
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