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BROKER'S OPINION OF VALUE
A 80 Unit ● Class C ● Multi-Family Asset
A P A R T M E N T S
APARTMENTS FOR SALE
KET Enterprises Incorporated I 4295 San Felipe, Suite 355 I Houston, TX 77027 I www.ketent.com
SQUARE OXFORD
OXFORD SQUARE • 4410 OXFORD ST • HOUSTON, TX 77022APARTMENTS FOR SALE
0 $00 $0.00
Units: 60 0Avg Size: 849 PRO-FORMA CAP RATE: 0.00%Date Built: 1970Rentable Sq. Ft.: 50,912 HIGH VALUE #VALUE!Acreage: 1.76Occupancy: 92% MID VALUE MARKETClass: C
LOW VALUE #VALUE!SALIENT FACTS:
♦ Available on an All Cash or New Loan Basis ♦ Ideal first property
♦ Located in Independence Heights super neighborhood ♦ Value-add opportunity
♦ Easy access to I-45, Loop 610, Hardy Tollroad ♦ An interior and exterior rehab could produce higher rents♦ Good drive-by on Oxford St.♦ Very few apartment properties in Independence Heights♦ Blue collar tenant profile ♦ Part of the Greater Northside Management District
MARKET
$0
♦ Close to a METRO busline
For More Information Please Contact:
Hashir Saleem
hashir@ketent.com 713-355-4646 ext 106
4295 San Felipe, Suite 355 Houston, TX 77027
www.ketent.com Broker License 406902
10/9/2017 OxfordSquare
OXFORD SQUARE • 4410 OXFORD ST • HOUSTON, TX 77022
Asking Price Est Mkt Rent (Sep-17)Amortization (Months) Avg MoDebt ServiceMonthly P & IInterest RateDate Due
Water Meter / Master Master Est Res for Repl/Unit/YrYield Maintenance
Pitches
PRO-FORMA INCOMECurrent Street Rent with a 7% Increase $46,545 / MoEstimated Gross Scheduled Income $46,545 / MoEstimated Loss to Lease (2% of Total Street Rent) 2%Estimated Vacancy (2% of Total Street Rent)Estimated Concessions and Other Rental Losses (2% of Total Street Rent) 2%Estimated Utilities IncomeEstimated Other Income $272 / Unit / YrEstimated Total Rental IncomeESTIMATED TOTAL PRO-FORMA INCOME $45,112 / Mo
Sept 2016 thru Aug 2017 Income
Fixed Expenses2016 Tax Rate & Est Future Assessment
Estimated Estimated
$565 per Unit $950 per Unit
Total Utilities $1,254 per Unit $1,254 per Unit
Other ExpensesGeneral & Admin & MarketingRepairs & MaintenanceLabor CostsContract ServicesManagement Fees 0.00% $ per Unit 4.00% $361 per UnitTotal Other Expense $1,816 per Unit $2,730 per Unit
Total Operating Expense $3,635 per Unit $4,935 per Unit
Reserve for Replacement $300 per Unit $300 per Unit
Total Expense $3,935 per Unit $5,235 per Unit
Net Operating Income (Actual Underwriting)
Asking Price
Gas $12,889 $215 per Unit $12,889 $215 per UnitWater & Sewer $60,286 $1,005 per Unit $60,286 $1,005 per Unit
UtilitiesTotal Fixed Expense
UtilitiesElectricity $34 per Unit$2,070
33,914 57,026
$36,026
PRO-FORMA
558,540
541,34416,316
(11,171)0 $ / Unit / Yr
Estimated Utilities
$350 per Unit$36,026
Projected Loan Parameters
$600 per Unit
(11,171)(11,171)
HVAC System Indiv
Jan thru Aug 2017 Expenses Annualized
541,344
Physical Information
Number of Units
Net Rentable Area
MARKETAvg Unit Size
Financial Information
60849
Operating Information
Estimated New Loan @ 75%
34.106
INCOME
$43,500$42,769
Pre-Leased Occ (Sep-17)
$21,000$217 per Unit$13,010$20,904
50,9121.76Land Area (Acres)
8/17 Trailing Operating Statement$348 per UnitTaxes
EXPENSE$513,225
Fixed Expenses
1970
Insurance
Indiv
Seller will pay off the existing loan prepayment penalty
MODIFIED ACTUALS
Date Built Units per Acre
Elec MeterRoof Style
360
$300
4.75%
2017 Tax Assessment$15,683
558,540
Est Ins per Unit per Yr$0
Estimated Fixed Expenses
Estimated Expenses
DISCLAIMER: The information contained herein has been obtained from sources that we deem reliable. We have no reason to doubt the accuracy of the information, but we have not verified it and make no guaranty, warranty or representation about it. It is your resonsibility toindependently confirm its accuracy and completeness. We have not determined whether the property complies with deed restrictions or any city licensing or ordinances including life safety compliance or if the property lies within a flood plain. THE PROSPECTIVE BUYER SHOULDCAREFULLY VERIFY EACH ITEM OF INCOME OR EXPENSE AND PERFORM OR HAVE PERFORMED ANY INSPECTIONS TO VERIFY POSSIBLE CONTAMINATION BY ASBESTOS, LEAD PAINT, MOLD OR ANY OTHER HAZARDOUS SUBSTANCES. The owner reserves theright to withdraw this listing or change the price at anytime without notice during the marketing period.
$12,900
$30,300$59,059
$11,901$7,696
$198 per Unit
MARKETMARKET
296,084
227,260
75,245
92%
2%
10 yr
Yes
Property Tax Information1.947342016 Tax Rate/$100
Est Future Tax Assessment $1,850,000
$350
$805,337Est 2017 Taxes
Est Future Taxes
$2,070 $34 per Unit
$0
$215 per Unit$24,000
Estimated Other Expenses
75,245
NOTES: ACTUALS: Actuals are based on the owners's Jan thru Aug 2017 Expenses Annualized. PRO FORMA: Income is Pro Forma as Noted. Taxes were calculated using 2016 Tax Rate & Est Future Assessment. Insurance is estimated. Management Fees calculated as 4.% of Gross Income, Other expenses are Estimated for the Pro Forma.
$46,200$505 per Unit
236,115277,110
18,000
108,957
$984 per Unit$59,059$770 per Unit
314,084
163,813$21,654
18,000
$128 per Unit
218,115
$984 per Unit
Other Expenses
$400 per Unit
PROPERTY OVERVIEW
OXFORD SQUARE • 4410 OXFORD ST • HOUSTON, TX 77022 Keymap: 453J
Construction Quality: D
Age: 1970 Cable Ready Park & Ride Nearby Mortgage BalanceElec Meter: Indiv Mini Blinds Walk-In Closets Amortization (months) Houston ISD $1.206700A/C Type: HVAC Ceiling Fans School Bus Pick-up P & I Harris County $0.416560Water: Master Shuttle Route Type Harris County Flood Control $0.028290Wiring: Copper?? Patios/Balconies Assumable Port of Houston Authority $0.013340Roof: Pitches Monthly Escrow Harris County Hospital District $0.171790Paving: Asphalt Monthly Reserves Harris County Education Dept $0.005200Materials: Brick/Wood Origination Date Houston Community College $0.005200# of Stories: 2 Due Date City of Houston $0.100263Parking: Surface Interest Rate Grtr Nrthsd Mgmt Dist $0.000000Buildings: 5 Pre Payment Penalty 2016 Tax Rate/$100 $1.947343Units/Acre: 34.11 *In Select Units Transfer Fee 2017 Tax Assessment $805,337
UNIT MIX
Avg Mo 42,769$ Type Sq Ft Rent Total Rent Rent/SF
Sept 2016 43,769$ 2 Bed/1 Bath 60 849 50,912 $725 $43,500 $0.85Oct 2016 43,620$ Nov 2016 43,154$ Dec 2016 43,725$ Jan 2017 43,135$ Feb 2017 42,296$ Mar 2017 41,896$ Apr 2017 42,492$ May 2017 42,448$ Jun 2017 43,065$ July 2017 41,680$ Aug 2017 41,945$
Total / Avg 60 849 50,912 $725 $43,500 $0.85
ACCT NO: 0431590020145AMENITIES
COLLECTIONSNo.
Units
PROPERTY INFORMATION TAXING AUTHORITY - HARRIS COUNTYEXISTING MORTGAGE
PROPERTY INFORMATION
5/31/17 RR & HCADPLEASE DO NOT VISIT THE SITE WITHOUT AN APPOINTMENT
MADE THROUGH THE BROKER.
Total SqFt
$40,500
$41,000
$41,500
$42,000
$42,500
$43,000
$43,500
$44,000
Sept
2016
Oc
t 201
6 No
v 201
6 De
c 201
6 Ja
n 201
7 Fe
b 201
7 Ma
r 201
7 Ap
r 201
7 Ma
y 201
7 Ju
n 201
7 Ju
ly 20
17
Aug 2
017
Oxford Square consists of five buildings constructed in 1970. The exterior of the buildings is constructed of all brick, only the eaves are made of wood. The roof is constructed with pitched composition shingles. The project has received some rehab but appears to need additional work. The asset is located in the Independence Heights area of the City of Houston and is approximately 8 miles north of the Houston Central Business District. Residents enjoy its' convenient location near Interstate Highway 45, Loop 610, the Hardy Tollroad and the Highway 290 corridor. Independence Heights is a Super Neighborhood on the brink of redevelopment. The community has come together and developed plans that will guide the neighborhood revitalization. In 2008, the community was damaged by Hurricane Ike. As a result, federal funding is slated to help redevelop this historic community. New homes and schools are being built. In April, 2016, construction on a $51.7 million new campus broke ground for Booker T. Washington High School. The neighborhood also boasts about the new, "zero energy" home located exclusively in Independence Heights. These homes are designed to cost less to own, operate and maintain and ultimately generate energy rather than expend it. Home prices will range from $150,000 to $225,000. The models range in size from 1,100 square feet to 2,800 square feet.
Disclaimer: The information contained in this Memorandum reflects material from sources deemed to be reliable, including data such as operating statements, rent roll, etc. provided by the Owner. Notwithstanding, KET Enterprises Incorporated does not make any warranties about the information contained in this marketing package. Every prospective purchaser should verify the information and rely on his accountants or attorneys for legal and tax advice. This offer is “As-Is, Where-Is”. Answers to specific inquiries will have to be supplied by the Owner and are available upon request. Rates of return vary daily. No representations are made concerning environmental issues, if any.
Upgrade Summary Items Description Bldg Year Completed Roof Whole Roof Replacement Bldg 3 2016 A/C Units 75%+% Condenser Units Replaced 2004-17 Plumbing New Heat Exchanger 10/2010 75 Gallon New Boiler Tank Installed 08/2016 Fence All New Metal Fence and 5" Posts 12/2015 Parking Lot All New Asphalt Paving 05/2015
RENT COMPARABLESOXFORD SQUARE • 4410 OXFORD ST • HOUSTON, TX 77022
1 Candlelight Estates818 Pinemont
2 Bayberry Apartments838 Oak St.
3 Mirabella816 Oak St.
4 Redwood Village300 Victoria
5 Residence at Garden Oaks500 W Crosstimbers
Resident Pays - E (Electricty) W (Water) G (Gas)
Totals/Averages Comps 1970 89% 79 702 $698 0.994Oxford Square4410 Oxford St.
Sub-Market Averages Northline 92% 6,294 840 $754 $0.918
Houston Market Avgs 88% 636,699 882 $999 $1.133
90% 98 716
85% 68 679 0.797
1.065
$541
$80889% 98 759
1.060$759 +EW
RENT COMPARABLES (Oct 2017 - Apartment Data Services & Enriched Data)
Property Name Yr Blt Occ #Units
1970 92% 60 849 $725 $0.85
Avg SF Avg Rent P/SF
1972
1973
1970
1962
1972
99% 68 641
82% 61
+EWG
+E
+E
+E
+EW
716
0.995
1.052
$638
$753
OXFORD SQUARE APARTMENTS
1
4 3 2
5
SALES COMPARABLESOXFORD SQUARE • 4410 OXFORD ST • HOUSTON, TX 77022
1 Siena Villas 16000 Cotillion
2 Candlelight Garden5116 Alba
3 Pecan Shadows480 W Parker
4 Banyan Shore
2217 Hollister
5 Century Park
20430 Imperial Valley
Totals/Averages Comps $6,765,000 116,100 $60,002 $60.90 1978 113
Oxford Square4410 Oxford St.
Built
SALES COMPARABLES
Property Name Date Sold Price Sq. Ft. Price/Unit Price/SF Units
MARKET 50,912 $0 $0.00 1970 60
3/17 $3,450,000 64,950 $53,906 $53.12 1978 64
12/16 $4,200,000 50,377 $65,625 $83.37 1971 64
3/17 $13,575,000 235,280 $65,264 $57.70 1983 208
9/16 $6,300,000 124,136 $45,985 $50.75 1976 137
9/16 $6,300,000 105,759 $69,231 $59.57 1984 91
OXFORD SQUARE APARTMENTS
1
4
3
2
5
SALES COMPS AVAILABLE UPON REQUEST
HOUSTON, TEXAS 2 0 1 7 A T A G L A N C E
The City of Houston, the largest city in Texas and the fourth largest city in
the United States, is located on the coastal prairies of southeast Texas and
is home to a diverse array of industries and cultures. Houston is located in
Harris County, the nation’s third most populous county. The Houston
region, officially designated as the Houston - Woodlands - Sugar Land
Metropolitan Statistical Area (MSA), comprises Harris County and eight
other counties: Austin, Brazoria, Chambers, Fort Bend, Galveston, Liberty,
Montgomery, and Waller. The Houston MSA has a population of
approximately 6,656,947 according to new U.S. Census Bureau estimates.
The nine county metropolitan area is the fifth-largest metropolitan area in
the nation and covers 9,444 square miles. The most urbanized portions of
the Houston area are in Harris County, the southern part of Montgomery
County, and the eastern section of Fort Bend County. Houston is home to
the tenth largest port in the world and is in close proximity to Mexico, a
key trading partner. It has a temperate climate and an affordable cost
of living.
With a population exceeding 2.3 million, the population base includes a
wide variety of racial and ethnic groups that give Houston a rich diversity
and cosmopolitan feel.
The U.S. Bureau of Economic analysis estimates metro Houston's Gross
Domestic Product (GDP) at around $503.3 billion. If the MSA were an
independent nation, its economy would rank 23rd largest in the world,
behind Taiwan ($523.6 billion), but ahead of Sweden ($499.4 billion).
Source: Greater Houston Partnership Research, December 2016
Ever since its founding as a port city, Houston has been a dynamic international marketplace, attracting capital and people from all over the world. Today, Houston is the nation's fourth largest economy, and what Forbes calls "America's next great global city."
Houston’s annual trade growth is among the highest in the nation with a total annual trade value growth of 84.6 percent, from $136.451 million in 2005 to $251.855 million in 2015; exceeding the nation’s growth rate of 45.2 percent during that same period.
Houston is already a leading exporter, and our exports have increased 189% since 2003. In fact, Houston is the #1 metro exporter in the top energy related industries. But recent low oil prices have slowed our rate of growth. A plan to boost goods exports can further diversify our economy, help existing companies grow, and create more jobs.
Houston's export plan will connect small and medium-sized enterprises to growing markets, while positioning the region as a location of choice for global investors.
Source: Greater Houston Partnership Research, December 2016
Despite Setbacks Houston Still has a Strong Economy
From 2010 to 2014, Houston added nearly half a million jobs. This period of phenomenal growth provided the momentum needed to sustain the region through the early stages of the energy downturn that began at the end of '14. As oil prices and rig counts fell through '15 and early '16, Houston's job growth began to slow. In '15, the region added 15,200 jobs, and added 13,400 jobs in the 12-months ending Oct '16. In spite of the energy industry's worst downturn in history, Houston managed to post 12-month net job gains throughout this period. A strong U.S. economy, momentum from the previous economic boom, robust population growth, and the $50 billion in petrochemical plant expansions have helped offset losses in upstream energy and manufacturing.
The goods-producing industries (mining and logging, construction, and manufacturing) peaked at 586,300 jobs in December '14, then fell to 536,400 jobs in October '16. Mining and logging, primarily oil and gas extraction and support activities, lost 25,600 jobs, a 22.9 percent decrease. These losses rippled through the economy, triggering declines in other sectors, particularly durable goods manufacturing, wholesale trade and professional and business services. Construction, helped by the petrochemical plant expansions on the eastside of Houston, gained 6,100 jobs over the same period. Manufacturing lost 30,400 jobs and fabricated metal products lost 12,100 jobs. Construction and mining machinery lost 14,200 jobs, and computer and electronics lost 2,300 jobs. The service-providing industries added 66,600 jobs between December '14 and October '16. Gains in industries that rely on population growth offset losses in sectors tied to energy. Trade, transportation, and utilities lost 1,400 jobs, financial activities added 3,000 jobs, and professional, scientific and technical services cut 7,700 jobs. Healthcare and social assistance added 24,500 jobs, accommodation and food services added 27,600, and government gained 14,700 jobs.
Houston's Service-Providing Sector Continued to Add Jobs During the Energy Downturn
No Single Industry or Sector Dominates
Houston Employment
Source: Texas Workforce Commission Aug '16
The service industries account for 4 out of 5 workers in the region
The goods-producing sector accounts for nearly 1 in 5 of
the region's jobs Source: Greater Houston Partnership Research, December 2016
2 0 1 7 E c o n o m i c F o r e c a s t
According to an article written by Jim Gaines, a research economist at the Real Estate Center at Texas A&M University, dated January 6, 2017, in the Houston Business Journal, "the economic downturn that began in November 2014 seems to be over." Jim Gaines states that there is generally a two-to three-year lag between the time the energy sector goes into a slump and all of its impacts on the economy are felt. Houston's energy slump unofficially began on November 27, 2014, when OPEC announced it would not adjust oil production levels. Gaines said that Houston should see some of the slump's final lag effects in 2016. Gaines also noted that 2016 is poised to be the best year on-record for Houston home sales. The Greater Houston Partnership recorded that November 2016's home sales were the best November on-record for single-family home sales. Much of that boom can be attributed to Houston's population growth. Despite the oil slump, few residents are leaving Houston. In 2016, Houston welcomed 132,000 new residents (45,600 households). Gaines also states that Houston's population is expected to rise to 7.4 million by 2020 and should double to 14 million by 2050. Additionally, according to an article dated January 11, 2017, by G. Scott Thomas of Buffalo Business First, a sister paper to the Houston Business Journal, Houston is on the brink of a population milestone. Buffalo Business First has developed a computer formula that uses 15 years of demographic data to estimate the population of any community at any given moment, and according to predictions by Business First, Houston will reach 6.9 million on March 13, 2017 and 7.0 million on November 17, 2017.
What are other signals the downturn is over? As stated by the Greater Houston Partnership's '2017 Houston Employment Forecast': West Texas Intermediate (WTI) the U.S. benchmark for light, sweet crude, now trades near $50/barrel. WTI traded as low as $26 in mid-February 2016. The number of drilling rigs working in the U.S. reached 593 in mid-November 2016. Only 404 rigs, the fewest in recent history, were in the field in mid-May 2016. After 21 months below 50, the Houston Purchasing Managers Index hit 51.1 in October 2016. Readings above 50 signal pending expansion; below 50, contraction. The region created 13,400 jobs in the 12 months ending October 2016. Annualized growth had sunk as low as 3,200 jobs in May 2016. The forecast also asserts, "the recent downturn could be compared to a tropical storm. The damage done depended on where one stood as the system passed over Houston. Those businesses closest to the energy industry felt the full fury of the storm. Those distant from oil and gas, to extend the metaphor a bit further - on the dry side of the storm - were buffeted but not blown away." The forecast calls for the strongest job growth in manufacturing, wholesale trade, retail trade, finance and insurance, real estate, business, professional and technical services, other services and government.
Renowned Real Estate Economist States: ' The Downturn Seems to be Over'
Source: Greater Houston Partnership Research, December 2016
Source: www.bizjournals.com, 1/6/16, Cara Smith
Since December 2014, developers have added more than 37,000 units to local inventory. Another 15,000 units are under construction, the majority scheduled to open in the next 12 months. That equates to 52,000 units delivered in a market that is just beginning to recover. Over the past 12 months, Houston has absorbed about 6,500 units. The over supply of apartments cut overall occupancy to 88.5% in January 2017, down from 91.5% at its June 2015 peak. Occupancy rates below 90% favor tenants. Rents have responded accordingly, dropping between 2% and 6% depending on the apartment class. The market absorbed 14,000 Class A units through the first 10 months of 2016, but this performance came at the expense of Class B, C and D properties, which collectively lost 7,500 tenants over the same period. Traditional Class B and C tenants have been enticed into the Class A market with deposit waivers, free rent (as much as 3 months) and other enticements. Whether these tenants renew their leases remains to be seen, but is however, doubtful. If one uses the industry rule of thumb that for every six jobs created, the market absorbs one unit, then Houston needs to add 156,000 jobs to cut the current surplus in half. Once the economy recovers, growth should return to the long-term trend - 50,000 to 60,000 per year.
MULTI-FAMILY..... Moving Forward
Cautiously
Ignoring Class B and C Apartment Market is a 'Big Mistake'
During the economic downturn some Class B and C tenants were lured into the Class A market with large free rent waivers and other concessions. With the improving conditions, a large portion of these tenants will most likely not renew and will return to the Class B and C market. In an article in the Houston Business Journal, dated September, 28, 2016, by Paul Takahashi, Todd Marix of Holliday, Fenoglio, Fowler (HFF) observed that ignoring the Class B and C apartment market is a 'big mistake'. As stated by the article, when Todd Marix brought Broadstone Grand Parkway to market he expected to receive bids from six or seven interested buyers - par for the oil downturn. The 342-unit garden apartment complex, built in 2009, had solid occupancy in the high 90th percentile but was offering two months free rent amid increasing competition from nearby apartments in Katy. However, Marix's multifamily investment team at HFF received a whopping 18 bids for the property. The deal is still under contract but Marix said it sparked a bidding war between local and out-of-town private equity firms. "We were shocked by the level of participation," Marix said. "We haven't seen this kind of bidding behavior in a long time. It tells me there's some optimism in the market." Despite the oil slump, many opportunistic apartment buyers are returning to Houston in search of good deals, according to Marix.
Young apartment investors are also looking to get into the market during the oil slump, Marix said. These buyers are willing to accept lower rents for one or two years and hope that Houston's apartment market will recover around 2018. "Buyers like Advenir are relatively new to Houston, but they like the recovery aspect," Marix said. "These buyers have patient capital and want to buy in Houston at an advantageous time. They know things will be bumpy for the next year or two but are hoping they will come out the other end with a great deal." Most of these new Houston buyers are focusing on the city's Class B and C apartment market during the energy downturn, Marix said. Marix estimates there are about 620,000 apartment units in Houston, of which the majority - two-thirds - are Class B and C apartments.
Source: Greater Houston Partnership Research, December 2016
Source: www.bizjournals.com, 9/28/16, Paul Takahashi
4513 OXFORD ● HOUSTON, TX 77022 Houston
Independence Heights is a historic community in Houston, Texas, bordered by Crosstimbers to the north, Yale Street to the west, the 610 Loop to the south, and Airline Drive to the east. The boundary created by the City of Houston is bordered by Tidwell to the north, Shepherd Drive to the west, the 610 Loop to the south, and Interstate 45 to the east. The community is filled with many bungalow style homes that remind one of the days gone by. Local residents enjoy a friendly environment and take pride in the fact that they still know their neighbors. The neighborhood is home to some 14, 000 residents of diverse backgrounds. There are four well maintained parks and four schools. The community is filled with memories of the old days with land marked places and historical designations. Newcomers find comfort in fairly priced property and diverse housing options that all can call home. Independence Heights is a Super Neighborhood on the brink of redevelopment. The community has come together and developed plans that will guide the neighborhood revitalization. In 2008, the community was damaged by Hurricane Ike. As a result, federal funding is slated to help redevelop this historic community. New homes and schools are being built. In April, 2016, construction on a $51.7 million new campus broke ground for Booker T. Washington High School. The neighborhood also boasts about the new, "zero energy" home located exclusively in Independence Heights. These homes are designed to cost less to own, operate and maintain and ultimately generate energy rather than expend it. Home prices will range from $150,000 to $225,000. The models range in size from 1,100 square feet to 2,800 square feet.
Oxford Square Apartments
OXFORD SQUARE • 4410 OXFORD ST • HOUSTON, TX 77022 Area Industry
The Woodlands
Downtown
North Houston District
Energy Corridor
249 Technology Corridor
290 Industrial Corridor
❶ ❷
❸ ❹ ❺ ❻
❼ ❽
❾
❶ ExxonMobil North American Headquarters Currently developing a 3.5 million SF campus set to bring 10,000 employees and 40,000 total jobs. ❷ Southwestern Energy Campus Currently developing a new campus for its 1,000 Houston employees. ❸ Kindred Hospital A transitional care hospital dedicated to providing care to medically complex and catastrophically ill patients. ❹ Houston Northwest Medical Center Medical staff of approximately 600 members offering a wide range of inpatient, outpatient and diagnostic imaging services. ❺ Hillwood Industrial Development Expected completion in 2015. 414,000 SF Industrial complex with 120 docks. ❻ Farouk Systems Farouk Systems now has more than 2,000 employees and product distribution in over 100 countries worldwide. ❼ George Bush Intercontinental Airport Served 39.8M passengers in 2013. 28th busiest airport in the world and 12th busiest in North America (for passenger traffic). ❽ Rankin Road Industries Major employers such as Schlumberger; Honeywell, Baker Hughes, Borden and several oil and gas businesses are situated along Rankin road. ❾ North Houston District More than 4,400 companies and 18 million SF of office, retail and industrial space. ❿ Pinto Business Park 971 acre class "A" business park. Home to Sysco Corporation's 585,000 SF distribution center. Amazon will build a 855,000 SF warehouse here in 2017 Siena Villa Apartments
AREA INDUSTRIAL DEVELOPMENT
❿
Oxford Square Apartments
OXFORD SQUARE • 4410 OXFORD ST • HOUSTON, TX 77022
SUMMARY PROFILE2000-2010 Census, 2017 Estimates with 2022 ProjectionsCalculated using Weighted Block Centroid from Block Groups
OXFORD SQUARE • 4410 OXFORD ST • HOUSTON, TX 77022
1 Mile Radius 2 Mile Radius 3 Mile Radius2017 Estimated Population 15,761 66,050 152,0442022 Projected Population 18,073 73,755 168,6322010 Census Population 14,454 62,245 141,5642000 Census Population 15,953 64,646 141,509
Projected Annual Growth 2017 to 2022 2.9% 2.3% 2.2%Historical Annual Growth 2000 to 2017 -0.1% 0.1% 0.4%
2017 Median Age 36.9 34.5 34.3
2017 Estimated Households 5,804 23,533 55,8992022 Projected Households 6,632 26,199 61,8092010 Census Households 5,176 21,425 50,1422000 Census Households 5,410 21,437 47,989
Projected Annual Growth 2017 to 2022 2.9% 2.3% 2.1%Historical Annual Growth 2000 to 2017 0.4% 0.6% 1.0%
2017 Estimated White 33.1% 54.2% 58.2%2017 Estimated Black or African American 40.4% 17.6% 15.0%2017 Estimated Asian or Pacific Islander 0.9% 1.2% 1.5%2017 Estimated American Indian or Native Alaskan 0.7% 0.7% 0.7%2017 Estimated Other Races 25.0% 26.3% 24.6%
2017 Estimated Hispanic 50.9% 62.5% 60.7%
2017 Estimated Average Household Income $39,615 $70,529 $79,0902017 Estimated Median Household Income $30,006 $55,318 $62,5752017 Estimated Per Capita Income $14,829 $25,211 $29,142
2017 Estimated Elementary (Grade Level 0 to 8) 24.4% 21.2% 18.2%2017 Estimated Some High School (Grade Level 9 to 11) 15.3% 12.8% 12.2%2017 Estimated High School Graduate 29.0% 26.3% 24.1%2017 Estimated Some College 17.3% 14.9% 15.2%2017 Estimated Associates Degree Only 4.5% 4.3% 4.1%2017 Estimated Bachelors Degree Only 6.5% 12.4% 15.7%2017 Estimated Graduate Degree 3.0% 8.1% 10.5%
2017 Estimated Total Businesses 829 3,280 6,5302017 Estimated Total Employees 8,582 39,695 67,6512017 Estimated Employee Population per Business 10.4 12.1 10.42017 Estimated Residential Population per Business 19.0 20.1 23.3
1 Mile Radius
EDU
CA
TIO
N(A
GE
25+)
BU
SIN
ESS
POPU
LATI
ON
HO
USE
HO
LDS
RA
CE
AN
D E
THN
ICIT
Y IN
CO
ME
Non-Hispanic Hispanic
White Black Asian Other Hispanic
$39,615
$72,073
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
Subject Houston
KET ENTERPRISES INCORPORATED
4295 San Felipe, Suite 355 Houston, TX 77027 Tel: (713)355-4646
Fax: (713)355-4331 www.ketent.com
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Disclaimer: The information contained in this Memorandum reflects material from sources deemed to be reliable, including data such as operating statements, rent rolls, etc. However, we (KET Enterprises Incorporated or any of the Owners or officers, directors, employees, agents or representatives of any such entities) have not verified its accuracy and make no guarantee or representation about it. It is submitted subject to the possibility of errors, omissions, change of rental or other conditions. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. We make no representations or warranties, expressed or implied, as to the validity, accuracy or completeness of the information provided or to be provided, and nothing herein shall be deemed to constitute a representation, warranty or promise by any such parties as to the future performance of the Property or any other matters set forth herein. You and your tax and legal advisors should verify the information and rely on his accountants or attorneys for legal and tax advice. Rates of return vary daily. No representations are made concerning environmental issues, if any.
FOR MORE INFORMATION PLEASE CALL: PRIMARY CONTACT: HASHIR SALEEM Broker/Senior Associate (713) 355-4646 xt 106 hashir@ketent.com
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