Trailing Vine

2812 Trailing Vine Road
Houston, Texas 

96 Units 

Purchase Date: 2013
Sale Date: Holding
Projected ROE: 100%

Class B property purchased in 2013 , located in a strong (Spring) submarket of North Houston. The property had been posted for foreclosure, and the Lender agreed to sell to USW at a discount to Loan Payoff (Short sale). Approximately 80% occupied at acquisition, the property severely needed renovation. USW spent $5000/ unit to install all new siding and paint, improve drainage, interior renovation of some 50% of the project, and office remodel. Within 6 months, USW had stabilized the occupancy at 95%. USW believes there is significant upside in the rental rates, and therefore plans to hold for the near term.