Investment Overview

Marcus & Millichap is pleased to present Zion Village Senior Apartments, a 50-unit Section 42 Senior Housing community in Houston’s Greater Third Ward neighborhood. This historic and culturally rich neighborhood lies just southeast of downtown and is known for its vibrant arts scene and proximity to major institutions such as the University of Houston and Texas Southern University. Zion Village Apartments offers a mix of 13 one-bedroom, one-bathroom units (approximately 565 square feet) and 37 two-bedroom, two-bathroom units (approximately 828 square feet). Rents for the one-bedroom units range from $381 to $760 per month, while two-bedroom units range from $442 to $900 per month. Under the terms of the Land Use Restriction Agreement (LURA), two units are designated for households earning at or below 30% of the Area Median Income (AMI), and 48 units are designated for households earning at or below 50% of AMI. The LURA, placed into service on December 21, 2009, will remain in effect until December 31, 2049. Please contact the listing broker for a copy of the LURA.