Buy&Hold (Multifamily): (484 Units) 505 Cypress Station Dr, Houston, TX 77090 + $29,500,000
- Promise Land Realty
- Apr 13
- 2 min read
Multifamily Investment Opportunity
Price
$29,500,000
Off-Market Investment Opportunity: The Park at Cumberland – Houston, TX
Property Overview:
Asset Class: C-Class Multifamily
Address: 505 Cypress Station Drive, Houston, TX 77090
Year Built: 1977
Units: 484
Offering Price: $29,500,000
Price per Unit: Approximately $63,016
Occupancy: Approximately 95% (market average)
Current NOI: 1.83M
Cap Rate: 7.0%
Financials:
Investment Highlights:
Prime Location: Strategically situated near Beltway 8 and Interstate 45, offering residents easy access to shopping, dining, and entertainment venues.
Spacious Floor Plans: Nineteen thoughtfully designed layouts ranging from 697 to 1,490 sq. ft., featuring one, two, and three-bedroom options.
Community Amenities: Residents enjoy a state-of-the-art fitness center, three shimmering swimming pools, a business center, clubhouse, grilling area, playground, and 24-hour emergency maintenance.
Pet-Friendly Environment: The community welcomes pets, providing amenities such as dog runs, mobile grooming services, and designated pet waste stations.
Value-Add Potential: Opportunity to enhance unit interiors and community amenities to increase rents and overall property value.
Operational Upside:
The current ownership has not fully capitalized on the property's potential. With professional management and strategic improvements, there is significant opportunity to increase revenue and property value.
📧 Submit all offers and inquiries to: investments@promiselandrealtyllc.com
🔒 TEAM PROMISELAND DISCLAIMERThis property is being offered exclusively by Team Promiseland. No individual or entity is permitted to market or disseminate details regarding this property without written authorization or verified membership within Team Promiseland. Unauthorized distribution is subject to an immediate $1,050 fine and may result in more serious legal action.
Property Map
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PROMISE LAND REALTY LLC
Work: 864-762-2509
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top.
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