Kipling Street 2724, Houston, TX, 77098, US

Gables River Oaks

Asset Description

Jones Lang LaSalle (“JLL”) has been exclusively retained to offer qualified investors the unique opportunity to purchase fee-simple interest in Gables River Oaks (The “Property” or The "Asset"), a 302-unit concrete construction apartment complex in the heart of Houston's most desired neighborhood, River Oaks. This Asset is ideally located on Kipling Street just west of Kirby Drive, which is walkable to Houston's most prestigious destinations, popular employment centers and top tier retail and entertainment concepts. Completed in 2014, Gables River Oaks' exceptional quality, best-in-class finishes and prime location presents a one-of-a-kind opportunity to invest in Houston’s best submarket at a discount to replacement cost. The Property is well positioned to experience significant rent growth due to the elevated average household incomes and home values in a one-mile radius.

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Attributes

Number of units

302 units

Occupancy

96%

Year built

2014

Building area net

26,562 m²

Land area gross

1 ha

Media

Investment Highlights

Best-in Class Asset
High-Quality Concrete Construction
Located in the Heart of Houston's Most Affluent & educated Demographics
$176,855 Average Household Income
87.4% College Educated
Potential to Significantly Increase Market Rents
Rent Growth Potential - Significant Discount to Mortgage with Income-Fueled Room to Grow
62.4% Renter-Occupies Housing Units
$943,624 Average Home Values
Premier Location within 3.5-miles of Texas Medical Center, Galleria, Greenway Plaza, and Downtown
Proximate to Employment, Retail, Parks, and Entertainment
Discount to Replacement Cost
Limited Urban Upcoming Supply