The Carlisle offers the opportunity to acquire a stabilized, 97% occupied multifamily asset at 9898 Forum Park Drive in southwest Houston. Located near major employment centers like the Westchase District and I-69, the property taps into strong local workforce housing demand in a growing Houston metro.
Current ownership has absorbed the bulk of major capital expenditures. Major capex costs include a full roof replacement in 2016, vinyl siding replacement, a complete exterior paint refresh completed within the last few months, a centralized gas boiler replaced around 2014, and targeted repairs to the galvanized plumbing as needed. On the interior side, over 90% of the units have been upgraded with granite countertops, repainted cabinets, laminate flooring in living areas, updated fixtures, and black/white appliances.
Beyond stable existing yields, the property holds clear upside. A buyer can immediately capture proven rent premiums by updating the remaining 8 to 10 classic units on turn. Additionally, every unit features full washer/dryer hookups which provides an opportunity to increase by providing washer/dryer units.
Broker Of Record
Patrick Graham
Matthews Real Estate Investment Services, Inc
528005, 9005919 (TX)
2699 Howell St., Suite 400, Dallas, TX 75204 (866) 889-0550.