Update on apartment building Houston
December 5th, 2007 by KenricThings are going well since the last update a month ago. The occupancy has gone from 90% to 94% even with the increase in rents. 4% is just filling 5 units, but it really means that there are only 7 empty units in the 125 unit complex.
Some of the partners are in Houston right now visiting the complex to overlook and oversee the work. Our partners may also have another even larger $10M+ complex under contract as I type this. We’re going to need a huge downpayment, around $3.5M to get this one! I guess it’s time to clean out our couch cushions.
Posted in Apartments | 
Stumble it!
What’s the cap rate on the $10M deal? Are you seeing any increase in cap rates in Houston?
By Another Investor on Dec 5, 2007