Aston at Cinco Ranch_Property for Sale
Aston at Cinco Ranch_Property for Sale
22400 Westheimer Pkwy, Katy, TX, 77450-8304, US

Aston at Cinco Ranch

Asset description

Jones Lang LaSalle (“JLL”) has been exclusively retained to offer qualified investors the unique opportunity to purchase a fee-simple interest in Aston at Cinco Ranch (The “Property” or The "Asset"), a 228-unit apartment community in the heart of Houston's most desirable suburban neighborhood, Cinco Ranch. 


Aston at Cinco Ranch offers an exceptionally differentiated living experience, combining resort-style amenities, spacious renovated floorplans, and attached garages to create a true community feel. The property sits in the heart of Cinco Ranch, ranked by Niche.com as the "#1 Best Place to Live in Texas". Aston at Cinco Ranch is conveniently located adjacent to Westheimer Parkway, a bustling main road in Houston, and just a few minutes away from Hwy 99, providing easy access to Houston's major employment hubs. Aston at Cinco Ranch offers the perfect blend of serene suburban living and convenient urban access, ideally positioned near West Houston's most affluent neighborhoods within the highly acclaimed Katy ISD, the top-ranked school district in the Houston metropolitan area. Aston at Cinco Ranch is poised to experience significant rent and other income growth, thanks to strong recent property performance, along with elevated household incomes and home values in the surrounding area. With existing land use limiting the development of new communities in the surrounding area, Aston at Cinco Ranch presents investors with a one-of-a-kind opportunity to acquire an asset with strong in-place cash flow in Houston's top suburban submarket.

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Attributes

Units
228
Occupancy
96.1%
Year built
2000
Year renovated
2015
Land area net
5.83 ha

Media

Investment highlights

  • Strong T30 Lease Trade Outs at 8.2% Across New Leases & Renewals
  • 3 Levels of Renovation – 24% Classic, 58% Legacy, and 18% Platinum
  • Significant Income Upside Potential
  • Extremely Low Density Product with a Neighborhood Feel
  • Attached One- or Two-Car Garages for Every Unit
  • High Barrier To Entry Cinco Ranch Location
  • Unparalleled Demographics in a 1-Mile Radius
  • $195k Average Household Income
  • 36% Earn over $200k
  • $517k Average Home Value 
Aston at Cinco Ranch 4_Property for Sale
Aston at Cinco Ranch 4_Property for Sale

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Last updated
Sep 20, 2024