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Key Facts
Year Built | 1900 |
Building Area |
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Land Area |
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Number of units | 244 |
Property Description
Marquis Downtown Houston Lofts is a trophy-quality, Class A multi-housing asset directly east of Downtown Houston. This non-commodity asset is thoroughly unique in the Houston market, as an innovative, adaptive reuse community and an authentic historic landmark noted in the National Register of Historic Places. It is available on an All Cash basis and below replacement cost.
Investment Highlights
- 93% average occupancy over the last decade
- Improved occupancy and maintained rent levels during 2020
- 70% 1B with average unit size of 1,003 SF
- Original 1900s finishes preserved, including flooring, industrial windows, and brick walls
- Authentic loft finishes, skyline views, and 15’ to 22’ ceiling heights
- Opportunities to upgrade interiors and repurpose or add amenities
- 197 (81%) of units have white appliances, 46 (19%) have black appliances, and there is 1 unit with stainless steel appliances
- Comps averaged 28% higher rents pre-pandemic, underscoring a favorable return to peak rent story in an improving market
- Houston is ranked #2 in nation for office occupancy rates, signaling a quicker return to normalcy is on the horizon
- In rapidly gentrifying EaDo, one of Houston’s trendiest neighborhood
- Qualified Opportunity Zone and hot development corridor with $250 million invested over the last few years
- 54% increase in housing prices since 2010
- $108,122 average household income
- Walking/biking distance to Downtown Houston (168K+ Jobs, 51M SF of office space
- Walking/biking distance to 3 professional sports stadiums and METRORail
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