The Palms Apartments

Pasadena, TX

Property Overview

Summary

  • OFFER PRICE $7,000,000 ($83,395/UNIT)
  • YEAR BUILT 1963/2011
  • AVERAGE SF 790
  • TOTAL # OF UNITS 86
  • TOTAL RENTABLE SF 67,924
  • LOT SIZE (ACRES) 3.03

Property Description

The Palms Apartments is renovated 86 units multifamily property located at 1500 Strawberry Road in Pasadena. From top to bottom, the property has undergone a comprehensive transformation, boasting new roofs, siding, plumbing, electrical systems, and windows, ensuring enhanced durability and efficiency. Interior renovations consist of 100% tile flooring throughout the property, appliances and cabinets. Excellent location with frontage on Strawberry Rd and down the street from Bobby Shaw Middle School, Gardens Elementary School and the Pasadena Police Department. Strong in place cash flow and value add opportunity with further interior improvements (i.e. adding washer dryer connections).


Investment Highlights

▶ Fully Renovated exterior from the studs up. All new Electrical Panels, Windows and AC Units.

▶ Excellent Location within Pasadena on Strawberry road adjacent to 2 Schools.
▶ All Interiors have tile flooring throughout and granite counter tops.

▶ Washer dryer connections could be added as part of a value add program with the ability to enhance rents.

Location

Exclusive Advisors

Jordon Emmott

Founding Partner
GREA
713-595-9584

Abraham Garza III

Founding Partner
GREA
713-595-9582

Shayan Hasnain

Chairman / Founding Partner
713-595-9580