Beverly Palms

Constructed in 1970, this 362-unit, garden style apartment community is located approximately 1.5 miles from the Houston Galleria Mall, placing it in one of the strongest performing economic metro areas in the nation. Its location is also one of the top 5 submarkets in Houston for highest average rental rate.

Although the property was well-maintained, the most recent owner had a very conservative operating approach to maintenance, particularly since occupancy rates hovered around the 98% mark. To further enhance revenue growth, we budgeted approximately $1,000,000 for renovations. These included contemporizing the property’s exterior by repainting, adding architectural enhancements, upgrading the common areas, and finally applying new finishes and fixtures in unit interiors.

We purchased the property in 2012 and sold it in 2018.

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