Houston Market Trends

Overview of the Houston Market

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Maps

Overview location maps for properties being marketed by KET Enterprises are shown in this section.

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Cypress Ridge

A VALUE ENHANCEMENT OPPORTUNITY, Cypress Ridge is a 268 unit, garden-style, apartment community comprised of 21 two-story residential buildings. The gated community is located in north Houston, off FM 1960, and was built on 7.48 acres in 1980. Due to negative cash flow, the property is an ideal candidate for a lender restructuring program. A buyer will typically pay 5% at closing to cover the closing costs and commissions. Buyer will post escrows for rehab and for negative cash flow. Any loan assumption will require lender approval and any escrows to be approved by the lender as well. A Confidentiality Agreement is available for download and is required to view financial documents. Please fax to 713-355-4331. ***NO OFFICIAL ASKING PRICE***AVAILABLE***

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Happy Homes

RECENT FORECLOSURE - GOOD UPSIDE POTENTIAL! Happy Homes is a 216 unit, brick and wood, garden-style apartment property built in 1977. Highly visible "C" property in a "C" location in the Westwood submarket of southwest Houston. The property needs correction of minor deferred maintenance and interior upgrades. As of August 2010, the property is 97% occupied. Owner is paying for water/sewer and gas for hot water. A water/sewer RUBS could be implemented to increase income. Current rents are approx 9% below area competition on a sq. ft. basis. All Cash. Asking $13,657/unit ($16.97/sq.ft.) Click this link to visit our YouTube property video.

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Alabama Garden - Beaumont

STABILIZED CASH FLOW OPPORTUNITY! Alabama Garden is a very clean, 64 unit, garden-style, 1985 vintage apartment property located across the street from Lamar College in Beaumont. This property can be purchased separately or together as one package with Farah Village and Parkway for a total of 204 units. Owner renovated the entire property including new roofs and is in the process of repainting the exterior and putting in all new Hardie board. The property has always maintained high occupancy and the recent occupancy decline is a result of the renovations and school being out for the summer. The owner expects occupancy to increase once school begins next month. Asking $30,000/unit ($40.34/sf).

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