Normandy Woods

Normandy Woods is a 1980s vintage, workforce housing community located 11 miles east of Downtown Houston and 4 miles north of the Port of Houston. The 268-unit, garden-style community is well-maintained, has stable cash flows, and offers multiple avenues to increase income under new ownership, including unit interior updates. Normandy Woods is available on an all cash basis.

Primed for New Ownership

• Consistent cash flow asset with 92% avg occupancy for the last decade
• Little to no deferred maintenance to address

Value-Add Potential

• Value-add opportunity in 258 units (96%)
• 10 units (4%) were upgraded with $85 - $100/month increases achieved
• 72 units (27%) have washer/dryer connections
• Only 2 of 72 units with connections collect $25/month for machine rental

Market Support for Value-Add

• Renovated workforce product nearby avg $100+/month higher rents
• Renovated Class A product nearby avg $400+/month higher rents
• 3% T12 rent growth in submarket, ranked #9 in Houston metro

Accessible, Convenient Location

• Close-in location 11 miles east of Downtown Houston
• 1 mile north of Interstate 10 and 4 miles north of Port of Houston
• 62 Walk Score compared to Houston metro average of 49
• Walking distance of Kroger-anchored shopping center
• Zoned to North Shore High School, #10 in Houston metro for athletics