712 Pinemont Dr.
Houston, TX 77018
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Property Description
Candlelight Manor is centrally located North of Downtown and the Heights, in a solid residential submarket called Garden Oaks where ranch style homes on huge lots sale for $170 building SF. Built in 1972, and 5 miles North from the Houston's Central Business District in a neighborhood that has seen much redevelopment of older properties, and some new development of single family homes. The Subject 68 unit is in a premium residential location, couple blocks East is the well established St. Pius private school undergoing $7M improvements, and just minutes from laid back pubs and restaurants like Petrol Station, Cottonwood and Plonk for entertainment. 712 Pinemont is located outside of the flood plain, and within the City of Houston, which does not subscribe to zoning and Pinemont Drive, the main corridor is being widened.

Candlelight Manor has a 609sf unit average consisting of all one bedroom units, each with central HVAC, electric stoves and dishwashers. Current roofs are flat membrane system approximately a couple of years old. Most recent improvements to Candlelight Manor are being made to comply with the City of Houston Habitability ordinances, in addition to expiring leases that are being rented at market rents. Common areas include laundry, a picnic/grilling area, and a spacious well maintained asphalt covered parking area. Property is gated in drive and in entry.

Property tour is available by appointment with Listing Broker, proof of funds will be required by Seller. Rents and Income will be increasing as current residents have their initial term come up for renewal as current or new tenants will be moved to market rents. Loss to lease will decrease, vacancy remains in the high 90 percent range consistently.
Presented by
Brian Janak, TX Broker / MBA
TX License 9000402
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