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Property profile & analytics
OFF-MARKET
Estimated value
$1,045,000
Garden apartment buildings
1550 Westborough Dr 340 Katy, TX 77449-1580
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-5561574
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2013
Construction
FRAME
Total area
33,355 SF
Lot
15.74 ac (685,852 SF)
APN
1338350020003
UPID
US82-5561574
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Gruas Hispanas-Servicio de Gruas in Katy TX-Towing Services in Katy Construction Company General Contractor
-
SAAB Limo Service Car Rental Facility
-
Tobasi Cleaning Services LLC Window Cleaning Service Commercial Cleaning Service
-
Starr's Brand Development Advertising Agency Marketing & Advertising
-
The District at Westborough Apartments Apartment Complex Apartment Rental Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$950k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.14M
Blend (final)
Blend
$1.05M
Owner & transaction history
Denton Bay LP · 7 yrs held
Denton Bay LP
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.4M
+59.4%
Industrial (general)
$1.1M
+18.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Katy submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Katy submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$950,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$885,000
Current use
WAREHOUSE, STORAGE
$1,415,000
Change: +59% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,050,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$1.05M
Range $941k – $1.15M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$31 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$962,148
Tax year 2022
Assessed value
$42,799,636
Assessed 2024
Previous assessed
$54,839,185
-22.0% YoY
Effective rate
2.25%
On assessed value
Assessed land
$6,858,520
Assessed improvement
$35,941,116
Land market value
$6,858,520
Improvement market value
$35,941,116
Total market value
$42,799,636
Applied tax rate
19.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2013
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
15
Stories
3
Total area
33,355 SF
Lot
15.74 ac (685,852 SF)
APN
1338350020003
UPID
US82-5561574
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$885,000
WAREHOUSE, STORAGE
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2013
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
15
Lot
15.74 ac
Current owner
From public records · entity-resolved
Denton Bay LP
Entity
Mailing address
3595 GRANDVIEW PKWY STE #150, BIRMINGHAM, AL 35243-1935
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 3, 2019
—
Denton Bay LP
At Westborough Prop District
Grant Deed
$37,250,000 · Greystone Svcg
May 12, 2017
—
District Of Westborough Props LLC
—
Deed
related
$34,500,000 · Lstar Cap Fin II INC
Aug 29, 2016
—
District Of Westborough Props LLC
District At Westborough LLC
Quit Claim Deed
related
$36,500,000 · Keybank USA
Jun 24, 2016
—
District At Westborough LLC
—
Deed
related
$28,800,000 · Keybank USA
Jun 4, 2015
—
District At Westborough LLC
—
Trustees Deed
related
$28,800,000 · Keybank USA
—
—
District At Westborough LLC
—
Deed Of Trust
related
$36,500,000 · Keybank USA
—
—
District Of Westborough Props LLC
—
Loan Modification
related
$36,500,000 · Keybank USA
—
—
District At Westborough LLC
—
Loan Modification
related
$36,500,000 · Keybank USA
—
—
District At Westborough LLC
—
Loan Modification
related
$28,800,000 · Keybank USA
—
—
District Of Westborough Props LLC
—
Deed Of Trust
related
$34,500,000 · Lstar Cap Fin II INC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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