Multifamily

Capri Apartments

2128 Oakdale St, Houston, TX 77004

Listing Price: Request For Offer

Number of Units
22
Occupancy
91.21%
Gross SF
13,088

Investment Overview

Marcus and Millichap is pleased to announce the exclusive listing of the Capri Apartments, a 22-unit apartment community built in 1956. Constructed on one-quarter acre, the property offers residents one-bedroom units averaging 595 square feet and immediate access to Highway 288 and the Texas Medical Center.

The current owners have upgraded nine units, and these upgrades include new electrical, new A/C, granite countertops, new flooring, double pained glass window, rich wood cabinetry, steel appliances, and stacked washer and dryer in one unit. These interior upgrades give the units a fresh modern look that is appealing to the current tenant mix.

Upgraded units are achieving over $200 rent premiums over classic units creating significant opportunity for a new investor. By continuing to upgrade 10 of the remaining classic units, a new investor can potentially increase rental income over $24,000 per year. By investing approximately $10,000 per unit to continue the unit enhancement program, a new investor has the potential to realize a 24% ROI.

Investment Highlights

  • Minutes from Texas Medical Center & Central Business District
  • Immediate Access to Highway 288
  • Upgraded Units Achieving Over $200 Premium Over Classic

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
22
Occupancy
91.21%
Gross SF
13,088

Investment Highlights

  • Minutes from Texas Medical Center & Central Business District
  • Immediate Access to Highway 288
  • Upgraded Units Achieving Over $200 Premium Over Classic

Investment Overview

Marcus and Millichap is pleased to announce the exclusive listing of the Capri Apartments, a 22-unit apartment community built in 1956. Constructed on one-quarter acre, the property offers residents one-bedroom units averaging 595 square feet and immediate access to Highway 288 and the Texas Medical Center.

The current owners have upgraded nine units, and these upgrades include new electrical, new A/C, granite countertops, new flooring, double pained glass window, rich wood cabinetry, steel appliances, and stacked washer and dryer in one unit. These interior upgrades give the units a fresh modern look that is appealing to the current tenant mix.

Upgraded units are achieving over $200 rent premiums over classic units creating significant opportunity for a new investor. By continuing to upgrade 10 of the remaining classic units, a new investor can potentially increase rental income over $24,000 per year. By investing approximately $10,000 per unit to continue the unit enhancement program, a new investor has the potential to realize a 24% ROI.

Exclusively Listed By

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