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The Haven | Houston

14996 Northwest Fwy #75, Houston, TX 77040, USA

$3,990,000

Investment Available

Purchase Price

$4,500,000

Rehab Budget

7,800,000

Stabilized Value

$21,386,797

Stage

Active

Property Description

The Haven | Houston is conveniently located in Houston, TX with easy access to highways, shopping & dining, and currently contains 180 studio units and 10 One BR Suites. Upon purchase, this property will be fully renovated with kitchenettes in order to convert to Multi-Family with our adaptive re-use model, and the city allows for multi-family usage with no zoning restrictions to be concerned about. We anticipate the renovation project will take 12 months and fully leased up within 18 months. Once this property reaches stabilization we’re projecting to reach an ARV North of $21 Million.

Property Details

Property Type

Motel Conversion | Multifamily

Size

77,582

Floors

3

Target Cash on Cash

18-25%

Year Built

1981

Units

190

Property Location

14996 Northwest Fwy #75, Houston, TX 77040, USA

Investing involves risk, including loss of principal. Past performance does not guarantee or indicate future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. While the data we use from third parties is believed to be reliable, we cannot ensure the accuracy or completeness of data provided by investors or other third parties. Neither Metz Kelly Holdings nor any of its affiliates provide tax advice and do not represent in any manner that the outcomes described herein will result in any particular tax consequence. The opportunities within these pages or documents do NOT constitute offers to sell securities or stock, or solicitations of offers to buy securities or stock. Prospective partners should consult with a tax or legal adviser before making any investment decision.

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