Lenox Oaks

3810 Drexel Drive, Houston, TX, 77027, US

Description

Jones Lang LaSalle (“JLL”) has been exclusively retained to present qualified investors with an exceptional opportunity to acquire a fee-simple interest in Lenox Oaks (the “property”), a premier 259-unit , 5-story mid-rise apartment community positioned in Houston’s highly desirable Afton Oaks neighborhood with direct access to Interstate 69, providing tenants a seamless commute to several major employment centers. Nestled within Houston’s prestigious Afton Oaks neighborhood, Lenox Oaks places residents at the heart of the city’s dynamic growth corridor. This prime location off of Drexel Drive between Richmond Avenue and Interstate 69 delivers exceptional connectivity to major employment centers while offering seamless access to Houston’s premier shopping, dining, and lifestyle destinations.

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Attributes

Number of units

259

Year built

2023

Building area net

217,005 sf

Property Type

Wrap

Average Unit Size

838sf

Media

Investment Highlights

Prime Urban Positioning in Houston's Elite Corridor
Strategically positioned with Houston's most affluent and highly educated demographic hub, offering exceptional walkability and urban connectivity
Unmatched Access To Houston's Premier Employment Hubs
Situated within a six-mile radius of four major employment centers - The Texas Medical Center, Downtown, Greenway Plaza, and The Galleria - providing residents with unparalleled access.
Significant Discount to Replacement Cost
Lenox Oaks is offered at a significant discount to replacement cost while today's construction costs remain elevated.
Favorable Supple Dynamics
The highly desirable Galleria/Uptown submarket is experiencing a notable contraction in new construction pipeline, creating a supply-constrained environment that supports a rent growth and occupancy stability for well-positioned assets.