10001 Westpark DrHouston, TX 77042

For Sale
$1,740,000

30-Unit Apartment Building, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
94
Sunridge Villas presents a compelling investment opportunity in Houston, Texas. This multifamily property, located at 10001 Westpark Dr, 77042, in Harris County, comprises 30 recently renovated apartment units within a larger 64-unit condo complex. Built in 1983, the property boasts a strong net operating income (NOI) of $143,181, representing a significant return on investment. The asking price is $1,740,000, translating to approximately $60,000 per unit. Strategically situated approximately six miles west of Houston's Central Business District, Sunridge Villas benefits from its proximity to major roadways and a thriving area with substantial residential, retail, and office development. The property's location offers convenient access to various amenities and services. Importantly, the acquisition of these 30 units grants the buyer 45% voting rights within the Homeowners Association (HOA), providing significant influence over the property's future management and direction. This presents a unique opportunity to acquire a substantial stake in a well-located, income-producing asset with potential for further value appreciation. The renovated units contribute to a stable rental income stream, making this an attractive investment for both seasoned and emerging real estate investors seeking a foothold in the dynamic Houston market.

Highlights

  • Walk-up condo complex, ~6 miles west of Houston CBD.
  • Excellent location near major thoroughfares, surrounded by strong residential, retail, and office development.
  • 30 renovated, for-rent condo units (of 64 total), providing 45% HOA voting control.

Property Details for 10001 Westpark Dr

Property type
Multifamily properties, Apartment buildings
Year Built
1983
Units
30

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.721354779309
Longitude
-95.540586355328
10001 Westpark Dr, Houston, Texas

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10001 Westpark Dr
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