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Multifamily
Highpoint at Cypresswood
Houston, TX
336 Units
Built in 2015
Suburban Core
Investment Highlights
- 2014 Vintage in Northwest Houston: 336-unit, Class A asset located within the Cypress/Tomball/Spring triangle, one of Houston's most active suburban residential corridors
- Below Replacement Cost Basis: Offered at a 15%–20% discount to replacement cost, providing investors an attractive basis in today's market
- Embedded Value-Add Opportunity: Opportunity to renovate 168 units (50% of the property) and capture ~$100 monthly rent premiums through a $5,000/unit renovation program, equating to a 24% blended ROI
- Long-Term Tax Exemption: Benefits from a 100% property tax exemption through a partnership with the Houston Housing Authority under Texas Local Government Code 303
- Premier Vintage Park Location: Positioned adjacent to Vintage Park, a 500K+ SF mixed-use destination featuring premier retail, dining, office, and medical space, including HCA Houston Healthcare North Cypress and the Kelsey-Seybold medical campus
- Access to Major Employment Centers: Minutes from CityPlace (20K+ jobs) and within 10 miles of The Woodlands (40K+ jobs) and George Bush Intercontinental Airport (42K+ jobs)
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