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Chesapeake Village 8430 Antoine Dr 73 Unit Apartment Building For Sale Houston, TX 77088
Investment Highlights
- Attractive Unit Mix - 85% Two-Bedroom Units
- All Units Equipped With Washer & Dryer Connections
- Opportunity to Implement RUBS Program ($75) , W/D Rental Income ($50), and Covered Parking Fees ($30)
- Large Unit Sizes - 989 Average Square Feet
- Substantial Value-Add Opportunity Through Improved Management
- Current Loss to Lease Gap of $91 Based On Recent Signed Leases
Executive Summary
Marcus & Millichap is pleased to present the exclusive opportunity to acquire Chesapeake Village, a 72-unit multifamily community located at 8430 Antoine Drive in Northwest Houston. Built in 1984 on a 3.58-acre site, the property features a desirable two-bedroom-heavy unit mix, representing 85 percent of the total unit count, with the community averaging 989 square feet. Composed of 19 separate buildings and 80 covered parking spaces, Chesapeake Village presents itself as a unique value-add opportunity for multifamily investors in Houston.
Chesapeake Village offers new ownership several avenues to push revenue, including increasing rents to the market levels recently proven by signed leases. Additionally, current ownership is not charging back for any utility reimbursements, collecting covered parking fees, or collecting washer and dryer rental fees, reinforcing the asset’s value-add potential.
To Access Offering Memorandum & Financials: https://www.marcusmillichap.com/properties/307631/chesapeake-village-apartments
Chesapeake Village offers new ownership several avenues to push revenue, including increasing rents to the market levels recently proven by signed leases. Additionally, current ownership is not charging back for any utility reimbursements, collecting covered parking fees, or collecting washer and dryer rental fees, reinforcing the asset’s value-add potential.
To Access Offering Memorandum & Financials: https://www.marcusmillichap.com/properties/307631/chesapeake-village-apartments
Property Facts
| Sale Type | Investment | Lot Size | 3.58 AC |
| No. Units | 73 | Building Size | 71,180 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1984 |
| Building Class | B | Parking Ratio | 2.08/1,000 SF |
| Sale Type | Investment |
| No. Units | 73 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 3.58 AC |
| Building Size | 71,180 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 2.08/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Oven
- Tub/Shower
- Walk-In Closets
- Carpet
- Built-In Bookshelves
- Framed Mirrors
- Pantry
- Patio
- Smoke Free
- Vinyl Flooring
- Window Coverings
- Large Bedrooms
Site Amenities
- Controlled Access
- Clubhouse
- Pool
- Property Manager on Site
- Security System
- Gated
- Maintenance on site
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | $1,377 CAD | 763 |
| 2+2 | 62 | $1,653 CAD | 999 - 1,065 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 1393940000001 | Improvements Assessment | $5,670,335 CAD |
| Land Assessment | $1,747,284 CAD | Total Assessment | $7,417,620 CAD |
Property Taxes
Parcel Number
1393940000001
Land Assessment
$1,747,284 CAD
Improvements Assessment
$5,670,335 CAD
Total Assessment
$7,417,620 CAD
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Chesapeake Village | 8430 Antoine Dr
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