Location: 12211 Fondren Rd, Houston, Texas 77035
Year Built: 1984
Acquisition Date: 5/16/2018
According to Costar Analytics, effective rents in the market have grown by nearly 30% since 2010 on a cumulative basis, equating to an average annual growth rate of about 3%. This is a result of the strong demand for workforce housing in the Houston metro.
The asset is conveniently located in an area that provides immediate access to Texas’ most prominent thoroughfares and economic/employment sectors.