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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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Building Area
Number of units 422

Property Description

Jones Lang LaSalle (“”JLL””) is pleased to present Legacy at Cypress ("the Property" or "the Asset"), a 422-unit garden-style apartment community with significant value-add potential. The community consists of 20 two-story buildings spread across 23.93 acres. Located 2-miles from HW 249, 5-miles from Beltway 8, and 5-miles from HW 290, the Asset is highly accessible to an abundance of employers and attractive destinations. Legacy at Cypress offers a prime opportunity for new ownership to acquire a well-mainted low-density living community with significant value-add potential in a bolstering multifamily submarket.

Investment Highlights

  • Located in the #1 Absorption Submarket in the Nation (CoStar)
  • Significant Value-Add Potential
  • Garden Style Product with Attached Garages
  • Zoned to A Rating Cypress-Fairbanks ISD (niche.com)
  • Strong Property Performance

- Achieving 13.5% Trade Outs on New Leases

- Achieving 5% Trade Outs on Renewals

- Maintained Stabilization Throughout COVID-19 


  • Strong Submarket Fundamentals

- 11.6% T6 Rent Growth

- 4.6% T6 Occupancy Increase

- Axio Projected 6.6% Rent Growth by Q3 2022


  • Affluent Demographics in One-Mile Radius

- 37.6% of Households Earning over $100K

- Average Home Value $253,225

Last Updated Date: 14 Sep 2021
Will Griffin
Will Griffin
Director, Capital Markets
Ryan Gregory
Ryan Gregory
Director

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Last Updated Date: 14 Sep 2021

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