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621 S Richey St
Pasadena, TX 77506 Downtown Pasadena

Price Upon Request

Apartments For Sale  •  504,938 SF

Property Details

  • Property Type Apartments
  • Total Building Size 406,330 SF
  • Lot Size 28.28 AC
  • Building Class C
  • Year Built 1970
0 Transit Score
50 Walk Score

Highlights

Deploy repositioning and value-add strategy to address deferred maintenance, bring down units online, enhance operations, and drive occupancy to mar
Implement RUBS and a bulk cable agreement to increase NOI
Repurpose building next to leasing office to another amenity, such as a clubhouse with a gym, to increase retention and competitive position
Light renovations, including granite countertops and new cabinets, are achieving $20 to $40 premiums
Class A and Class B communities average 93% and 92% occupancy, respectively, in the submarket
Nearly $500 rent gap with average Class A rent in the submarket and $200 rent gap with average Class B rent in the submarket

Property Flyers

Amenities

  • Air Conditioning
  • Clubhouse
  • Courtyard
  • Day Care
  • Laundry Facilities
  • Playground
  • Pool
  • Gated
  • Heating
  • Ceiling Fans
  • Kitchen
  • Refrigerator
  • Oven
  • Walk-In Closets

Public Transportation

AirportDriveWalkDistance
William P Hobby 19 min - 7.8 mi
George Bush Intcntl/Houston 38 min - 28.2 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 832
Type: Surface
Included in Rent: Yes
Christopher Curry 713-553-0151 Berkadia Real Estate Advisors
Christopher Curry 713-553-0151 Berkadia Real Estate Advisors