Property Overview

Summary

  • Units 68
  • Year Built/Renovated 1960/2024
  • # of Buildings 1
  • Avg Rent / SF $1.68
  • Avg Unit Size 630
  • Avg Rent $1,056
  • Price Market
  • Offering Terms All Cash

Investment Summary

The Court at Oak Forest is a well-positioned 68-unit community offering comfortable living in Houston’s desirable Oak Forest/Garden Oaks neighborhood. This well-maintained property features a mix of studio, one-, and two-bedroom floor plans with modern conveniences, including high-speed internet, Wi-Fi, and well-equipped kitchens with stainless steel appliances and pantries. Residents enjoy a variety of on-site amenities, including a pet-friendly environment with a dedicated pet park, on-site laundry facilities, and guest parking, creating a welcoming and convenient atmosphere. Ideally located, 

The Court at Oak Forest offers easy access to Houston’s top destinations, including The Heights, Oak Forest, and the bustling Galleria area, with nearby major thoroughfares such as U.S. 290, I-610 and I-10 providing seamless connectivity to the city’s best shopping, dining, and entertainment options. Featuring extensive recent capital improvements, including a new roof (2024), modernized interiors, and infrastructure upgrades, The Court at Oak Forest is a strong leasing opportunity poised for stabilized performance and future upside potential.


Investment Highlights

• Opportunity to add in-unit washer/dryer connections in additional units for ~$3,000 each, with a potential $150 rent premium per unit; successful conversion of 2-bedroom/1-bath units to 2-bedroom + office layouts has driven $200 rent increases per unit, with a recommended strategy to continue converting first-floor units to maximize income growth. Nearly 90% of the units have been fully upgraded, featuring vinyl plank flooring, modernized fixtures, low-flow toilets, quartz or granite countertops, black/stainless steel appliances, faux wood blinds, and updated interior HVAC blowers in approximately 30% of the units, with only six units remaining in classic condition.

• Occupancy is on track to exceed 90% by March 2025, with 7 pre-leased units, historically stable at 90%+ before storm disruptions, offering master-metered utilities and free Comcast Wi-Fi, without marketing as all-bills-paid to maintain a high-quality tenant base.
• The current owner has invested over $1 million in capital expenditures, including a new roof and decking (2024), a fully insulated chiller system (2020), targeted sewer and plumbing replacements, enhanced attic insulation, a smart water meter, a waste caddy system, and an updated Certificate of Occupancy (2024)*

• The Court at Oak Forest boasts an exceptional location with easy access to Houston’s top destinations, including The Heights, Oak Forest, and the Galleria area, along with convenient connections to major thoroughfares like U.S. 290, I-610 and I-10 , ensuring seamless connectivity to the city’s best shopping, dining, and entertainment.

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Exclusive Advisors

Brokerage team

Abraham Garza III

Abraham Garza III

Founding Partner
GREA
713-595-9582
Lucas Fertitta

Lucas Fertitta

Director
GREA
713-587-9603
Jordon Emmott

Jordon Emmott

Founding Partner
GREA
713-595-9584
Shayan Hasnain

Shayan Hasnain

Founding Partner
GREA
713-595-9580
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