Allendale Village

TPCG

Allendale Village- 96 units

6005 Allendale Rd, Houston, TX 77017

Strategy

Allendale Village is a Class C+ asset located in SE Houston.  It was purchased in an off market transaction at an attractive price.  Previous owners were the original developers through a family partnership with units outdated and rents 20-25% below market.  This represented an opportunity to acquire an asset at a significant discount to replacement cost and through a series of low-moderate cost rehab, implement an attractive interior package to push rents significantly.