Summary:
The Multifamily Group is pleased to present the exclusive opportunity to acquire Synott Square,
a compelling value-add multifamily investment located in Houston, Texas. Built in 1983, the property
comprises 108 units with an average unit size of 760 square feet. The community offers a
mix of one- and two-bedroom floor plans, with two-bedroom units representing approximately
70% of the unit mix (76 units).
Synott Square is currently 96% physically occupied, with economic occupancy averaging 91%
over the trailing 12 months and improving to 93% in recent months as collections strengthened
and delinquency declined. The property also has an assumable loan with a balance of approximately
$6,376,772, an interest rate of 3.34%, and a little under five years remaining on the
term, as well as the opportunity to assume the existing insurance policy, which was renewed in
November 2025 at an annual premium of approximately $83,030 ($768 per unit).
Location:
Synott Square is strategically located in West Houston, one of the city’s most established and
densely populated residential corridors. Positioned near the intersection of Highway-6 and the
Westpark Tollway, the property benefits from excellent connectivity to major employment centers
throughout the Energy Corridor, Westchase District, and Downtown Houston. Residents enjoy
convenient access to Interstate-69, and Beltway 8, allowing for easy commutes across the Houston
MSA.