Opportunities
Value-add/Opportunistic
3520 Burke RD, Pasadena, Houston TX
- 144
- 1984
- 20%+
- Moderate
- $1,300,000.00
Ashwood Park
Ashwood Park is a partial renovated 144-unit multifamily community located in the Pasadena submarket of Houston, TX. The property was originally built in 1984. Current owner has spent over 700k on interior and exterior renovation leaving 93 units to upgrade and achieve 150+ rent premiums. Ashwood is comprised of 9 two-story apartment buildings and a Clubhouse. Amenities vary by unit and include fully equipped kitchens with tile backsplashes, hardwood-style flooring, and washer and dryer connections. The grounds are span 5.26 acres. Common areas include one resort-style swimming pools, a fitness center, dog park and laundry facilities.
Top Reasons To Invest
- Bring renovated units up to market rents, renovate classic units and increase rent $150 average premium
- RUBS Implementation
- Leveraging the ample parking lot to add storage and amenities, enabling premium parking options at a competitive cost.
- Equity on the buy: Purchased 30% below asking price
- Pasadena: Desirable working-class family neighbourhood, close proximity to favorable shopping and high paying jobs along the coastline.
- Prior ownership has spent over $700,000 in interior/exterior upgrades
1
1 BR Units
611 square feet
1
2 BR Units
884 square feet
1
SF
Average
unit size
