Multi-housing / PRS

Lansbourough

10010 Cullen Blvd Houston, Texas United States 77051
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2006
Building Area
Occupancy 95.0 %

Property description

Lansbourough is an ultra-low density community with above-market unit sizes. It has a diversified unit mix with 80% LIHTC and 20% market-rate units. Current rents are below maximum achievable rent levels in the program, yielding a substantial rental income boost immediately attainable under new ownership.

Investment highlights

Lansbourough is a 176-unit, garden-style community with a convenient, close-in location to Central Houston. It was developed in 2006 utilizing Low-Income Housing Tax Credit (LIHTC) equity under Section 42 of the Internal Revenue code. The community offers stable cash flow with low turnover and immediate income upside. It is available below replacement cost and on an all cash basis.
Last Updated Date: 04 Aug 2020

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Last Updated Date: 04 Aug 2020

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