Multi-Housing

Lansbourough

10010 Cullen Blvd Houston, Texas United States 77051

Asking Price Contact for pricing

Area Size

NOI Net Operating Income N/A

NIY N/A

Documents

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Attributes

Year Built	2006
Building Area
Occupancy	95.0 %

Asset Description

Lansbourough is an ultra-low density community with above-market unit sizes. It has a diversified unit mix with 80% LIHTC and 20% market-rate units. Current rents are below maximum achievable rent levels in the program, yielding a substantial rental income boost immediately attainable under new ownership.

Investment Highlights

Lansbourough is a 176-unit, garden-style community with a convenient, close-in location to Central Houston. It was developed in 2006 utilizing Low-Income Housing Tax Credit (LIHTC) equity under Section 42 of the Internal Revenue code. The community offers stable cash flow with low turnover and immediate income upside. It is available below replacement cost and on an all cash basis.

Last Updated Date: 04 Aug 2020

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Last Updated Date: 04 Aug 2020