Multi-housing / PRS

Lansbourough

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

Documents

Confidentiality Agreement Teaser
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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
Christopher Young
Christopher Young
Senior Director, Capital Markets
License details
TX-630674
+81345107863
Michael Furrow
Michael Furrow
Director, Capital Markets
+81345107863
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Last Updated Date: 04 Aug 2020

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