| Company Name | Waterford Grove Apartments |
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| Contact Name | Camiren Dalrymple |
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| Contact Email | Email hidden; Javascript is required. |
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| Contact Phone | (574) 485-3371 |
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| Opportunity Name | 598 Unit Class B Houston TX |
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| Location of Business | 3125 CRESTDALE DRÂ HOUSTON, TX 77080 |
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| When was the business started? | 1973 |
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| What is the business most known for? | Amenities and community |
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| Who is/are owner/owners? | Privately Held |
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| Why sell the business? | Portfolio Sell
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| Are you looking to recapitalize the business by selling a majority stake to aggressively take the business to next level? | No |
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| Who will remain on the ownership level? | N/A |
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| Is the owner(s) planning to stay around? If so, what is their thinking? | No
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| What is the maturity level of the business? | Post Revenue and Profitable |
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| EBITDA or Profit for same period | Loss |
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| Trailing 12 Month Revenue | $7.5M |
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| Trailing 12 Month EBITA | (3.3M) Loss |
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| Any significant debt on the business? | CapEx and Remodel Debt |
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| Why did the business start? | Property Overview:
This is a 598 unit apartment complex in Houston Throughout our ownership we've completed 232 unit turns, installed a community soccer field, new fenced in dog park, various landscaping improvements and kept up with asphalt repairs & sealing We've also been converting 4 Bed 2 Bath units to 2 Bed 1 Bath units, which have been more in demand that the former, which has helped increase the property's unit count and income potential Our goal is to create 20 more units (618 total) by completing these conversions We're about 81% occupied Apartment Style Garden Building Class B Lot Size 27.11 AC Building Size 706,582 SF Year Built 1973 Parking Ratio 0.92/1,000
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| Why did the business start? | Property Overview:
This is a 598 unit apartment complex in Houston Throughout our ownership we've completed 232 unit turns, installed a community soccer field, new fenced in dog park, various landscaping improvements and kept up with asphalt repairs & sealing We've also been converting 4 Bed 2 Bath units to 2 Bed 1 Bath units, which have been more in demand that the former, which has helped increase the property's unit count and income potential Our goal is to create 20 more units (618 total) by completing these conversions We're about 81% occupied Apartment Style Garden Building Class B Lot Size 27.11 AC Building Size 706,582 SF Year Built 1973 Parking Ratio 0.92/1,000
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| How did business get to where it is at? | See Attached
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| Aggregations or Organic growth? | See Attached
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| Any tailwinds or headwinds facing business/sector? | See Attached
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| Sector insights from owner and what the opportunity going forward with new owner might look like? | See Attached
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| What is the unique story of business -- how is it different then their competition –what makes them better/worse? | See Attached
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| Provide any additional notes, information or data that supports this opportunity | ABOUT 3125 CRESTDALE DR HOUSTON, TX 77080
Status:
Available
# Of Units:
598
Address:
3125 CRESTDALE DR HOUSTON, TX 77080
Name Of Community:
WATERFORD GROVE
Class:
B
Lot Size:
27.11
Occupancy %:
92%
Year Built:
1973
Price:
$89,000,000 + 1% buyer fee
Selling Terms:
1 % Buyers Fee
Property Overview:
This is a 598 unit apartment complex in Houston Throughout our ownership we've completed 232 unit turns, installed a community soccer field, new fenced in dog park, various landscaping improvements and kept up with asphalt repairs & sealing We've also been converting 4 Bed 2 Bath units to 2 Bed 1 Bath units, which have been more in demand that the former, which has helped increase the property's unit count and income potential Our goal is to create 20 more units (618 total) by completing these conversions We're about 81% occupied Apartment Style Garden Building Class B Lot Size 27.11 AC Building Size 706,582 SF Year Built 1973 Parking Ratio 0.92/1,000
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| Financials | Waterford-Grove-Rent-Roll-10.24.2022.xlsx |
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| Date Created | January 3, 2023 |
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| Date Updated | January 3, 2023 |
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