9733 Neuens Rd
Houston, TX 77080
Pine Village · Immeuble residentiel Propriété À vendre · 25 Unités

Marcus and Millichap is pleased to present The Pine Village Apartments, a 25-unit multifamily community located at 9733 Neuens Road in Houston, Texas. Built in 1961,
the property is situated in the highly desirable Spring Branch submarket, one of Houston’s most established and consistently sought-after rental corridors.
The asset features a diverse unit mix consisting of one studio loft, six one-bedroom units, and 18 two-bedroom units, appealing to a broad tenant base. The property
showcases a variety of interior unit updates that have already achieved rent premiums, while maintaining additional upside through the completion of renovations on
the remaining classic units.
Over the past 3 years ownership has invested more than $450,000 into significant capital improvements that meaningfully strengthen the asset and reduce near term
capex risk. Upgrades include renovated interiors with new flooring, fixtures, updated plumbing, refreshed cabinets and countertops, blinds, and new appliances.
Property wide improvements include new windows for the entire complex, new electrical panels, resurfaced asphalt along the road frontage, a new storage shed, security
cameras, additional covered parking, enhanced exterior lighting, and multiple site enhancements that improve curb appeal and operational efficiency.
Currently 100% occupied, Pine Village Apartments offers immediate stability and in-place cash flow. With much of the initial renovation work already completed, the
property provides a clear value-add opportunity to further increase rents by updating the remaining classic units, with projected rent premiums of $100+ per month.
The property also includes a roughly 5,000 square foot rear lot on a separate parcel that provides flexible optionality for a buyer. The space can be developed, sold
separately, or repurposed for storage, amenities, or additional parking, creating multiple avenues to unlock additional value.
The community benefits from covered parking, an on-site laundry facility, and a landscaped gazebo and grilling area that enhance tenant retention. Located directly
across the street from Spring Woods Middle School and Pine Shadows Elementary School, the property enjoys consistent renter demand driven by its proximity to
schools and its position within one of Houston’s most desirable neighborhoods.
With strong occupancy, proven rental upside, and a straightforward renovation strategy, Pine Village Apartments represents a compelling opportunity for investors
seeking a stable, cash-flowing asset with meaningful value-add potential in a premier submarket.