Grove at White Oak
Houston, TX
Property Overview
Summary
- Units 156
- Year Built 1985
- Average Unit Size 731 SF
- Average Rent / Unit $1,305
- Occupancy 93.59%
- Price Market
- Offering Terms All Cash or Loan Assumption
- Maturity Date 06/01/2026
- Interest Type Fixed/Amortizing
- Interest 4.33%
- Original Loan Amount $16,000,000
- Balance as of 11/24 $15,575,000
Investment Summary
The property offers one and two-bedroom homes designed for comfortable living, with 29 out of 156 units remaining as classic (non-renovated) units. Each apartment features open layouts with modern finishes, including black appliances, washer/dryer sets, and jacuzzi-style tubs. Large bay windows provide natural light and views of the surrounding greenery. Residents enjoy access to a pool, a picnic area with BBQ stations, a business center, covered parking, and controlled access.
The property is ideally located at 1710 W TC Jester Blvd in Houston’s 77008 area, offering quick access to downtown (6 miles), Memorial Park (3 miles), the Galleria, and Uptown (10-minute drive). Nestled near the Houston Heights, residents enjoy a close-knit community with easy access to dining, shopping, and entertainment.
TOP-RANKED SCHOOLS: Best Schools in Houston has ranked many of the schools in Timbergrove / Lazybrook amongst the top in the state. Students can choose to enroll in one of the several schools in this neighborhood, with Vanguard Magnet programs ensuring top-notch quality education for young learners.
2024 HOUSING MARKET: The median listing price for homes in Lazy Brook-Timbergrove was $678,000 in 2024, with a median listing price per square foot of $320. In September 2024, the median sale price was $555,000, which was a 5.8% increase from the previous year.
