This is an exceptional opportunity to acquire two neighboring boutique multifamily assets—1903 (utilities included) and 1919 Portsmouth—in Houston’s sought-after Montrose neighborhood.
These well-located assets are minutes from Downtown, Midtown, the Texas Medical Center, Museum District, and Upper Kirby, offering amazing connectivity. The median household income is $106,000 within 1 mile! Hard corner location with access + parking on Portsmouth, Hazard & Norfolk.
Great Unit Mix with majority of units spacious 2-bedrooms, averaging ~ 920 SF. Rents are below renovated peers. There is strong upside through operational efficiencies including green energy upgrades such as water saving devices and contract service optimization plus moderate interior and exterior improvements. At today’s basis, the deal is projected to deliver favorable cash on cash returns.