Apartment Community with
7987 Bellfort Ave Houston, TX 77061
7987 Bellfort Ave, Houston, TX, 77061
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For Sale
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204-unit apartment community with added fitness, clubhouse, outdoor kitchen, picnic areas, playground, and on-site laundry equipment.
Days on Market104
Property Features for 7987 Bellfort Ave
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agency
Waller Group Homes
(214) 818-4109
Listed by
Logan Waller · License #TX 0479147
Source
Crexi
Added: Apr 11 Updated: Jul 22 at 8:19PM Checked: Jul 22 at 8:19PM
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
Location Intelligence
Current Use by Public Records
The Reserve @ Bellfort Apartments
Apartment Complex
Avi Kerendian
Charitable Organization
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FAQs
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
