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For Sale | Investment Opportunity Ravinia Apartments - 2400 Spring Rain Dr, Spring, TX 77379

For Sale | Investment Opportunity Ravinia Apartments: 2400 Spring Rain Dr, Spring, TX 77379

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For Sale

This property is available for sale

4.84

Acres

Negotiable

Sale Price

Overview
Ravinia is a tremendous value-add opportunity in the stable Northwest submarket of Spring, TX. The 232-unit, three-story community was built in 2000 and is a prime candidate for an interior renovation program which could garner significant rent premiums. The Greater Houston Area has seen record rent growth - up 23.2% over the past 90 days - which will help solidify the ability for new ownership to bump rents immediately on renewals.

Built in 2000, 3 story, individually metered, garden-style community
Ravinia features spacious units within a garden-style layout
Comprised of 13 buildings and 232 units across 14.1 acres
Strong occupancy
909 Average SF
Private patios/balconies
Mix of 1, 2 & 3 bedrooms

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Property Details

Ravinia is a tremendous value-add opportunity in the stable Northwest submarket of Spring, TX. The 232-unit, three-story community was built in 2000 and is a prime candidate for an interior renovation program which could garner significant rent premiums. The Greater Houston Area has seen record rent growth - up 23.2% over the past 90 days - which will help solidify the ability for new ownership to bump rents immediately on renewals.

Built in 2000, 3 story, individually metered, garden-style community
Ravinia features spacious units within a garden-style layout
Comprised of 13 buildings and 232 units across 14.1 acres
Strong occupancy
909 Average SF
Private patios/balconies
Mix of 1, 2 & 3 bedrooms