Marcus & Millichap is pleased to present the exclusive opportunity to acquire Chesapeake Village, a 72-unit multifamily community located at 8430 Antoine Drive in Northwest Houston. Built in 1984 on a 3.58-acre site, the property features a desirable two-bedroom-heavy unit mix, representing 85 percent of the total unit count, with the community averaging 989 square feet. Composed of 19 separate buildings and 80 covered parking spaces, Chesapeake Village presents itself as a unique value-add opportunity for multifamily investors in Houston.
Chesapeake Village offers new ownership several avenues to push revenue, including increasing rents to the market levels recently proven by signed leases. Additionally, current ownership is not charging back for any utility reimbursements, collecting covered parking fees, or collecting washer and dryer rental fees, reinforcing the asset’s value-add potential.
To Access Offering Memorandum & Financials: https://www.marcusmillichap.com/properties/307631/chesapeake-village-apartments