Oak Grove
10770 Barely Ln
Transforming Oak Grove Apartments for Optimal Returns
Guardian Equity LLC has acquired Oak Grove Apartments, a 272-unit multifamily property in Houston, Texas, strategically positioned in the desirable Cypress-Fairbanks Independent School District. This investment involves comprehensive renovations and upgrades, including modernizing interiors, and enhancing community amenities. Through both operational and capital improvements to this asset, Oak Grove exemplifies a well-located property with great potential for increased net operating income and, in turn, value for our investors.
Overview
Planned renovations will enhance both the property’s appeal and its rental income potential
Oak Grove was built in 2004 and underwent an extensive remodel in 2021 with many enhancements to the property. The previous owner has spent $2.1 million in capex prior to our purchase including a new exterior paint scheme, brand new unit interiors (50% of the units), and a fully updated clubhouse. Due to these recent enhancements and minimal deferred maintenance a modest capex budget of $1.65 million is planned for additional renovations.