Mirabella

Mirabella was acquired on October 29, 2021, as part of a joint venture. The property is complete with 240 units, conveniently located within the Houston, TX–MSA, just 15 miles of downtown. The asset is well situated for a value-add strategy consisting of fully renovating the 186 classic units and completing the 36 partially upgraded units, as well as plans to add at least 24 carport stalls and 24 private yards. The property will also receive enhancements to both the amenities and curb appeal to really standout in the marketplace.

The 240-unit complex built in 2002, consists of a one-, two-, and three-bedroom unit mix, with attractive floor plans averaging 1,017 square feet. The asset is in close proximity to a Kroger, Home Depot, AMC Movie Theater, the Lone Star Flight Museum, San Jacinto College South, Bay Oaks Country Club, and Ellington Field Joint Reserve Military Base, as well as surrounded by shopping centers on all sides. Many units are renovated with new appliances, new flooring, walk-in closets, as well as central air and heating.

Mirabella’s location, just southeast of downtown Houston, provides residents easy access to several parks, prominent employers, and major tollways such as Gulf Freeway Interstate 45 and Sam Houston Tollway. Additionally, the complex is 10 miles from both Space Center Houston and NASA Johnson Space Center. Houston is considered the fifth largest MSA and the fourth largest city in the nation; and is known for being a center for aerospace innovation, home to the oil/energy and chemical industries and as a hub for manufacturing. Houston is home to major employers such as Walmart, Memorial Herman Health System, H-E-B, the University of Texas MD Anderson Cancer Center, McDonald’s Corp, Houston Methodist, United Airlines and Shell Oil Co. The city has also seen recent relocations of businesses to the Houston area such as Great Lakes Dredge & Dock Corp., Maddox Defense, and Hewlett-Packard, which just moved its corporate headquarters to north of Houston.

Amenities:

• Business Center
• Fitness Center
• Playground
• Swimming Pool
• Picnic Area with BBQ Grills