Multi-Housing

Marquis Downtown Houston Lofts

2115 Runnels St Houston, Texas United States 77003-1000
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1900
Building Area
Land Area ()
Number of units 244

Property Description

Marquis Downtown Houston Lofts is a trophy-quality, Class A multi-housing asset directly east of Downtown Houston. This non-commodity asset is thoroughly unique in the Houston market, as an innovative, adaptive reuse community and an authentic historic landmark noted in the National Register of Historic Places. It is available on an All Cash basis and below replacement cost.

Investment Highlights

  • 93% average occupancy over the last decade
  • Improved occupancy and maintained rent levels during 2020
  • 70% 1B with average unit size of 1,003 SF
  • Original 1900s finishes preserved, including flooring, industrial windows, and brick walls
  • Authentic loft finishes, skyline views, and 15’ to 22’ ceiling heights
  • Opportunities to upgrade interiors and repurpose or add amenities
  • 197 (81%) of units have white appliances, 46 (19%) have black appliances, and there is 1 unit with stainless steel appliances
  • Comps averaged 28% higher rents pre-pandemic, underscoring a favorable return to peak rent story in an improving market
  • Houston is ranked #2 in nation for office occupancy rates, signaling a quicker return to normalcy is on the horizon
  • In rapidly gentrifying EaDo, one of Houston’s trendiest neighborhood
  • Qualified Opportunity Zone and hot development corridor with $250 million invested over the last few years
  • 54% increase in housing prices since 2010
  • $108,122 average household income
  • Walking/biking distance to Downtown Houston (168K+ Jobs, 51M SF of office space
  • Walking/biking distance to 3 professional sports stadiums and METRORail
Last Updated Date: 11 May 2021
Chris Curry
Senior Managing Director, Capital Markets
Todd Marix
Senior Managing Director, Capital Markets

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Last Updated Date: 11 May 2021

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