9733 Neuens Rd Houston, TX 77080

The Pine Village Apartments, located at 9733 Neuens Road in Houston, Texas, is a 25-unit multifamily community built in 1961. Situated in the Spring Branch submarket, the property features a unit mix of one studio loft, six one-bedroom units, and 18 two-bedroom units. Interior unit updates have been completed, achieving rent premiums, with additional upside possible through renovations of the remaining classic units. Over the past 3 years, the property has undergone more than $450,000 in capital improvements, including renovated interiors with new flooring, fixtures, updated plumbing, refreshed cabinets and countertops, blinds, and new appliances. Property-wide improvements include new windows, new electrical panels, resurfaced asphalt along the road frontage, a new storage shed, security cameras, additional covered parking, enhanced exterior lighting, and site enhancements. The property is currently 100% occupied. The property also includes a roughly 5,000 square foot rear lot on a separate parcel that provides flexible optionality. The community benefits from covered parking, an on-site laundry facility, and a landscaped gazebo and grilling area. Located directly across the street from Spring Woods Middle School and Pine Shadows Elementary School, the property benefits from renter demand due to its proximity to schools and location within a desirable neighborhood. The property offers the potential to further increase rents by updating the remaining classic units, with projected rent premiums of $100+ per month.