Online Auction: August 7-9, 2023

The Verve Houston, TX

Download Offering Memorandum

The Verve

Address

3201 Garth Road
Baytown, TX 77521

Property Overview

The Verve is a 56-unit apartment complex located in Baytown, TX. The well-maintained garden style apartments consists primarily of one-bedroom, two-bedroom and three-bedroom units averaging 827 square feet. The Property, which was built in 1963, is located off Garth Road, one of Baytown's primary north-south thoroughfares as well as the trade area's dominant retail hub. The Property is currently 88% occupied. Property was rehabbed by previous owner in 2017. Exterior improvements included but were not limited to new signage, landscaping, fencing, and exterior paint. Interior improvements included appliances, cabinets, flooring and paint. The property is currently operated on a RUBS system for water, electricity, and gas. The landlord is also billing back tenant for trash and pest control. 

Investment Highlights

Value-add REO opportunity

Immediate access to Interstate 10, Houston's dominant east-west freeway

Abundance of jobs available at local refineries

Conveniently located in close proximity to Houston's Ship Channel and multiple oil refineries

High demand for quality work-force housing

Move-in ready vacancies

Location

Team

Brokerage Team

Mart Martindale

Principal
214.545.6917 mmartindale@edge-cm.com

Claire Schmeltekopf

Associate
214.545.6941 claire@edge-cm.com

Micha van Marcke, CCIM

Principal
713.900.3011 micha@edge-cm.com

Wilson Stafford

Principal
214.545.6933 wstafford@edge-cm.com

Phone
713.900.3000
Address

515 Post Oak Blvd, Suite 175, Houston, TX 77027