Multi-housing / PRS

Lincoln Galleria and Lincoln Medical Center

2100 Bering Drive Houston, TX United States 77057
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A

Key Facts

Year Built 1991
Occupancy 92.0 %

Property Description

Lincoln Galleria and Lincoln Medical Center have been lightly updated by current ownership with upgraded finishes. Both properties could be further updated to bring the interiors to the next level, while still maintaining a respectable rent gap with new construction. The pool areas and amenities could be modernized (or repurposed) to include new grilling areas, social gathering spaces, and package lockers, which could be offset by the introduction of an amenity fee.

Investment Highlights

Lincoln Galleria and Lincoln Medical Center are two, infill multi-housing communities totaling 424 units built from 1990 to 1991. Both non-commodity assets are positioned in top-performing Central Houston submarkets with light supply going forward, underscoring the rent growth potential available to new ownership. The communities are available below replacement cost, on an All Cash basis, and can be purchased together or separately.
Todd Marix
Todd Marix
Senior Managing Director, Capital Markets
License details
TX-390880
Chris Curry
Chris Curry
Senior Managing Director, Capital Markets
License details
TX-0566750

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