Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Building Area Net
Number of units 281

Property Description

Jones Lang LaSalle (“”JLL””) is pleased to present Durham Heights ("the Property" or "the Asset"), a 281-unit wrap-style apartment community located in The Heights, a top performing multifamily submarket in Texas. This five-story Class A community was built in 2020 just south of Loop 610, visible to over 365,000 vehicles per day. The Property is ideally between two of the most notable roads in the Heights- N Durham Drive and N Shepherd Drive. This location is highly accessible to some of Houston's most travelled thoroughfares including Loop 610 and Interstate 45. The Asset is a benefactor of the Heights continual growth, walkable to some of Houston's top retail and entertainment destinations including M-K-T, Heights Mercantile and Historic 19th Street. Durham Heights is a prime opportunity for new ownership to acquire a timeless, institutionally-maintained community with strong activity in a top Texas multifamily submarket.

Investment Highlights

  • Best-In-Class, Institutionally Developed Class A Product Built in 2021 
  • Impressive Product Amenities
  • 2 State-of-the-Art Fitness Facilities
  • Gourmet Coffee Bar
  • 2 Resort-Style Pools
  • Pet Spa with Grooming Stations and Outdoor Pet Park
  • Top Performing Texas Multifamily Submarket
  • Ranked #1 Urban Submarket by ApartmentDataServices
  • 2,260+ Units Absorbed YTD
  • 12% Market Rent Growth YoY
  • 10.6% Annualized T6 Occupancy Growth
  • 17.1% Annualized T6 Rent Growth
  • Walkable to Top Retail and Entertainment Destinations including:
  • New HEB on N Shepherd at 23rd St
  • Historic 19th Street
  • 18th & Shepherd
  • Heights Mercantile
  • M-K-T
  • White Oak Bayou Trail
  • The Houston Farmers Market
  • Impressive Demographics in a One-Mile Radius
  • $160,000+ average household income
  • 58% earn over $100k annually
  • Population has nearly doubled since 2010
  • 5.5% projected annual growth through 2026
  • $485,000+ average home values
  • 67% of the population holds a bachelor's degree or higher
  • Highly Accessible to Interstate 610
  • Ideally Located Along Two Major Thoroughfares in The Heights - N Durham Dr and N Shepherd Dr


Last Updated Date: 07 Oct 2021
Matt Kafka
Matt Kafka
Senior Managing Director, Houston Office Co-Head
License details
TX-0474117
Dustin Selzer
Dustin Selzer
Senior Director, Capital Markets
License details
TX-728983

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Last Updated Date: 07 Oct 2021

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