Parkwood Apartments

Jones Lang LaSalle (“JLL”) is pleased to present Parkwood Apartments (“the Property” or “the Asset”), a 128-unit community built in 1976 that has been partially renovated in 2018 and owned by the original owner for 49 years. The property is strategically located in Texas City, TX, adjacent to major employers including UTMB Galveston, Marathon Petroleum, Valero Refining, Dow Chemical, and more. Operationally, the Property is thriving with a current occupancy of 96% and has demonstrated strong rent growth potential, successfully implementing an average rent increase of $150 across the past quarter with zero pushback from tenants. New ownership has the opportunity to acquire a stable, cash-flowing asset with significant upside through continued rent growth and operational efficiencies in this robust market.