CRANE APARTMENTS
5525 Crane Street, Houston, TX 77026
EXCLUSIVE OFFERING
river oaks equity partners 1 contents
Disclaimers...... 3 Investment Overview...... 4 Exterior Pictures...... 5-6 Interior Pictures...... 7 Maps + Aerial View...... 8 Property Summary...... 9 Valuation + Returns Summary...... 10 Financing, Sources + Uses...... 11 Unit Mix...... 12 Current Economics...... 13-14 Pro Forma...... 15-16 Recent Sale Comparable...... 17 Rental Analysis + Data...... 18-20 Plat Map...... 21 Submarket Data...... 22 Major Area Employers...... 23 Employment Drivers...... 24-29 Disclosures...... 30 Contact Information...... 31
river oaks equity partners 2 disclaimers
Real estate investment sales offered through River Oaks Equity Partners, L.L.C. (“Broker”). Texas Real Estate License 9007513
The information contained in the following executive summary is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Broker and should not be made available to any other person or entity without the written consent of Broker. This executive summary has been prepared to provide summary to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Broker has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this executive summary has been obtained from sources the company believes to be reliable; however, Broker has not verified any of the information contained herein, nor has Broker conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
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river oaks equity partners 3 investment overview
iver Oaks Equity Partners proudly presents Crane Apartments in Houston, Texas. This exclusive INVESTMENT HIGHLIGHTS R offering allows an investor the opportunity to acquire a 14-unit, newly renovated apartment community in n Offering Priced at $1,295,000 the sought after Inner Loop. This property is ideally situated in a residential neighborhood with proximity to n 7.0 Cap Rate on Current NOI Lockwood Drive, Cavalcade Street, and I-610 North. In addition to the nearby interstate and major streets, this n Turnkey Offering offering is a short 3.5 mile drive to Downtown Houston. n Inner Loop Asset
n Intensive Renovation in 2018
n Gated Community
Subject Property n Near Major Thoroughfares
PROPERTY UPGRADES (2018)
n Water Heaters
3.5 MILES n Electrical Temper Resistant Outlets
n Kitchen Appliances
Downtown Houston Major Employers n Kitchen Cabinets n Sinks and Tubs
n Doors
n Ceiling Fans
n Window Blinds
n Tile Flooring
n Electrical Meter Breaker Boxes
n Interior Plumbing + Electrical Fixtures
n New Roofs (2017-2018)
n Fencing
river oaks equity partners 4 exterior
river oaks equity partners 5 exterior
river oaks equity partners 6 interior
river oaks equity partners 7 maps + aerial view
Subject Property
Subject Property
Subject Property
Subject Property
river oaks equity partners 8 property summary
SITE LOCATION APPRAISAL DISTRICT Pr