Investment Overview

Marcus & Millichap is pleased to present the Hollyvale Apartments, located at 427 Hollyvale Dr in Houston, Texas. This property was built in 1972 and sits on roughly 1.35 acres in the North Houston area of the Aldine district. This property is located inside Beltway 8 between I-45 freeway and the Hardy Toll Road. The property offers a mix of six one-bedroom units and 32 two-bedroom units totaling 38 units with roughly ±31,270 rentable square feet. This property offers value add potential with a common area laundry facility to increase net operating income by featuring coin operating washing and drying machines for the tenants to use. A potential investor can also increase income by implementing an interior upgrade plan to increase rents by at least $100 per unit and a covered parking option for the tenants. There are storage units on property that a new owner can rent out to the tenants as well to earn a higher income per year. Houston, Texas is the fourth most populated city in the United States and the most populated city in the State of Texas which has seen continued population growth year over year. The city of Houston offers civilians a safe place to live with ample entertainment options and a strong economic foundation. Home to many professional sports teams, Houston, Texas is also known for its diverse economy consisting of energy, life sciences, manufacturing, logistics, and aerospace exploration.