8311 Winkler Dr Houston, TX 77017

Property Details for 8311 Winkler Dr

Year built

1955

Lot size

5.68 lot acres

Property type

Apartment buildings

Description

This 202-unit apartment complex, located at 8311 Winkler Dr, Houston, TX 77017, presents a compelling investment opportunity. The two-story garden-style community, built in 1955 and renovated in 2019 (per Harris County Appraisal District), boasts 139,393 square feet of net rentable space across 19 buildings situated on a 5.68-acre lot. Currently operating at 94% occupancy (pre-leased to 96%), this "all bills paid" property offers a diverse range of unit sizes, from efficiencies to four-bedroom apartments. Its prime location in the Meadowbrook-Allendale neighborhood provides easy access to I-45, Loop 610, and William P. Hobby Airport. Recent upgrades include six units with a $200 monthly rent increase and ten units with a $50 increase due to flooring improvements. Significant value-add potential exists through increased reserved parking income, pet fees, covered parking, and the potential addition of washer/dryer connections. The property features individually metered units, updated boilers, 14-year-old roofs, and recently replaced stairwells. Security is enhanced by 32 surveillance cameras and gated parking. The property has recently passed habitability inspections. Water-saving upgrades could potentially reduce water expenses by 50%. This asset offers strong rental income with significant future growth potential in Houston's expanding economy. The property is conveniently located between Pasadena and Park Place, offering residents easy access to Houston's cultural attractions and metropolitan amenities.