Investment Overview

Built in 1960, the 44-unit community is conveniently located in northwest Houston's Spring Branch District, between I-10, Beltway 8, and Highway 290, providing easy access to Houston's Energy Corridor, Uptown Houston, the Texas Medical Center, City Centre, and Downtown Houston. Catalina provides a warm, friendly community perfectly situated near a plethora of fine and casual dining restaurants, great shopping at Memorial City Mall and CityCentre, and plenty of local parks, including Houston's famous Memorial Park. The property offers a mix of one and two-bedroom floor plans with a modern flair, featuring granite counter tops, walk-in closets, premium hardwood-style flooring, and a stainless-steel appliance package in select units. Currently 98% occupied, Catalina will provide new ownership in-place, stable cash flow with proven value-add upside via interior renovations at the property. The property features select upgraded units that are receiving $150/unit premiums, providing tangible growth potential in one of Houston' most desirable submarkets. Additional revenue generation opportunities include carport implementation, full implementation of washer/dryer hook-ups in remaining units, utility implementation and increased amenity fee capture from pet rent, storage and reserved parking. New ownership of Catalina will be acquiring a stabilized boutique residential asset minutes from some of Houston's most popular attractions and employment centers. The underlying strength of Catalina Apartments, coupled with Spring Branch's increasing popularity and growing multifamily fundamentals, create the ideal northwest Houston multifamily offering.