1802 Hollyoak Drive

Title: Prime engineered 2.5-Acre Development Opportunity | Engineered 78-84 Unit Apartment Building in Houston’s I-10 West Energy Corridor | $1,990,000 ($23,690/Unit) | Houston, TX 77084
Executive Summary:
Strategic Location: Nestled in the heart of Houston's I-10 West Energy Corridor and near the West Texas Medical Center, this 2.5-acre property offers unparalleled access to one of Houston’s most vibrant and economically robust areas. Located just half a mile from I-10/Hwy 6, this site provides quick and easy connectivity to major thoroughfares, making it an ideal location for a residential apartment building.
Proximity to Healthcare Hub: The property is just a street away from the West Texas Medical Center, a top-tier hospital complex that attracts thousands of healthcare professionals and tens of thousands of patient visits. This proximity to a major employment and healthcare hub makes the site perfect for a multifamily development targeting medical staff, patients, and families seeking convenient living options.
Exclusive Living Environment: The property is designed to offer a premium living experience, with a gated perimeter and backed by permanent green trees, ensuring a serene and healthy environment. The development is suited for residents of all ages and stages, including working professionals, retirees, and seniors, who will benefit from the clean air, fresh oxygen, and tranquil atmosphere.
Customizable and Energy-Efficient Designs: The proposed development includes two engineered design options for 78-84 units, offering flexibility to tailor the construction to meet market demands. These designs focus on energy efficiency and cost savings, making the apartments attractive to eco-conscious tenants and providing long-term operational cost benefits for investors. The owner will provide all engineered materials and designed plans, including 2D and 3D renderings, to the buyer.
High Return on Investment: The engineered lot and designed apartment plans offer cost-saving construction options. Depending on your skills, the apartment building could be constructed for as low as $80 per square foot. With a potential cap rate of up to 10-15%, this property represents a lucrative investment opportunity. The high demand for residential units in this booming area, coupled with the property’s prime location and modern design, ensures strong rental income potential and long-term appreciation.
Investment Highlights:
• Prime Real Estate: Located in one of Houston’s fastest-growing and most desirable neighborhoods, this property offers investors a rare opportunity to develop in a high-demand area with significant economic growth potential.
• Flexible Development Options: With engineered design plans already in place, investors can choose from multiple development paths to suit market needs and investment goals.
• Strong Market Fundamentals: Houston's I-10 West Energy Corridor is a thriving area with a robust job market, particularly in the energy and healthcare sectors, driving demand for quality housing.
• Attractive Pricing: The property is competitively priced at $1,990,000, offering exceptional value at $23,690 per unit of land—a cost-effective entry point for multifamily development in a prime location.
Property Facts:
• Price: $1,990,000
• Price Per Unit (Land): $23,690
• Sale Type: Investment Opportunity
• Potential Cap Rate: Up to 10-15%
• Sale Conditions: Build to Suit – Flexibility in design and construction
• No. of Units: 78-84 (two engineered design options available)
• Property Type: Multifamily Residential Development
• Property Subtype: Apartment Complex
• Apartment Style: Customizable energy-saving and cost-saving designs
• Lot Size: 2.50 acres (approximately 100,000 sq ft)
• Construction Status: Proposed – Ready for development
• Building Size: 78,840+ sq ft
• No. of Stories: 3-story design options
Unit Mix Information:
• Cost-Effective 1 to 2-Bedroom Units: Each unit is designed to maximize space and comfort while adhering to modern energy-efficient standards.
• Average Rent/Month: Potential rental income varies based on unit size and configuration, with market rates indicating a strong rental demand.
• Unit Size Range: Unit sizes can be customized within the engineered design plans to meet market demand and optimize rental income.