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7987 Bellfort Ave, Houston, TX 77061
204-unit apartment community with added fitness, clubhouse, outdoor kitchen, picnic areas, playground, and on-site laundry equipment.
Days on Market111
Property Features for 7987 Bellfort Ave
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
204
Amenities
fitness center
clubhouse/community room
outdoor kitchen
picnic areas
playground
laundry room
Building Details
Tenancy
Multi
Listing Agency:
Waller Group Homes
(214) 818-4109
Listed By:
Logan Waller · License #TX 0479147
Source:
Crexi
Added: Apr 11
Changed: Jul 22
Last Checked: Jul 23 at 3:28PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Waller Group Homes
Investment Insights
Based on property information with market context.
The Reserve at Bellfort is a 204-unit apartment community offered for loan assumption and comprises two adjacent addresses: 7987 Bellfort Ave and 8306 Gulf Fwy. The property has undergone extensive capital improvements since 2019, including upgrades to interior finishes such as cabinets, countertops, backsplash, paint, and flooring, along with exterior and systems work including HVAC replacement, windows, lifetime roofs, exterior lighting, signage, Hardie board siding, and parking-related improvements. Ownership has also invested in common-area and lifestyle amenities, including a fitness center, clubhouse/community room, outdoor kitchen, picnic areas, and playground. The on-site laundry room features property-owned commercial grade washing and drying machines with a card-based system.
Management is provided by Lamppost Capital Management with multiple full-time staff. Most breaker boxes have been upgraded to General Electric, and most sewer lines have been replaced with PVC, with updates to most plumbing within the units. The property is reported to have double pane windows in about half of the units.
The Freddie Mac loan to be assumed was originated in 12/2022, with 5 years of interest only at a below-market interest rate. The outstanding balance is reported as $11.67 million at 6.00% interest rate with 30-year AMO. Current annual NOI is reported as $1,211,528, with pro forma analysis indicating potential to increase NOI under new ownership assumptions.
Management is provided by Lamppost Capital Management with multiple full-time staff. Most breaker boxes have been upgraded to General Electric, and most sewer lines have been replaced with PVC, with updates to most plumbing within the units. The property is reported to have double pane windows in about half of the units.
The Freddie Mac loan to be assumed was originated in 12/2022, with 5 years of interest only at a below-market interest rate. The outstanding balance is reported as $11.67 million at 6.00% interest rate with 30-year AMO. Current annual NOI is reported as $1,211,528, with pro forma analysis indicating potential to increase NOI under new ownership assumptions.
Key Highlights
- 204‑unit apartment community at 7987 Bellfort Ave and 8306 Gulf Fwy in Houston, TX
- Freddie Mac loan assumption: originated 12/2022, $11.67mm balance, 6.00% interest rate, 30‑year AMO, with 5 years of interest‑only
- Since 2019, $1,377,101 in capex including HVAC replacement, windows, lifetime roofs, and upgrades to cabinets, countertops, and flooring
Property Analytics
Current Use
Lease Details
204
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Explore this area
Business Placement
Demographics for 77061, TX
23,398
Population
9,942
Households
2.4
Avg Household Size
34
Median Age
15%
College-Educated
69%
High-School Grad
7.5 sq mi
ZIP Area
3,120
Density / Sq Mi
$44,520
Median Household Income
$32,659
Median Earnings
$973
Median Rent
$215,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - 204-unit apartment community with added fitness, clubhouse, outdoor kitchen, picnic areas, playground, and on-site laundry equipment.
Where is this apartment building located?
The property is located at 7987 Bellfort Ave Houston, TX.
What are key features of this property?
This property features: 204‑unit apartment community at 7987 Bellfort Ave and 8306 Gulf Fwy in Houston, TX; Freddie Mac loan assumption: originated 12/2022, $11.67mm balance, 6.00% interest rate, 30‑year AMO, with 5 years of interest‑only; Since 2019, $1,377,101 in capex including HVAC replacement, windows, lifetime roofs, and upgrades to cabinets, countertops, and flooring
