New N. Houston Townhome Community Added to Portfolio
NAS has assumed asset management and property management oversight of Tranquility Grove Townhomes. Located in a North Houston, Texas submarket, the property is a unique, gated community consisting of 92 townhomes with unique private attached garages.
The property was recently acquired by NAS Investment Solutions (NASIS). The property acquisition creates an investment opportunity for real estate investors, especially for those 1031 Exchange investors, who are in immediate need of a quality replacement property. The Tranquility Grove Townhomes property investment is also suitable for self-directed IRAs, a national property investment sponsor known for high quality passive property investments with reliable yield performance.
The property features an average home size of 1,032 square-feet and is located approximately nineteen miles north of downtown Houston and ten miles west of George Bush Intercontinental Airport. New roofs were recently added to all buildings on the 5.89-acre site which features community amenities such as a pool with deck furnishings, fitness center, playground, and a renovated clubhouse with copy and fax services.
Townhome interiors include washer and dryer hookups, central air and heating, a modern appliance package and private patios. Thirty-seven of the property’s ninety-two townhomes have been renovated with modern interiors such as laminate-style wood flooring, shaker-style cabinets with pulls, and modernized light fixtures. Renovation of the remaining fifty-five units is an excellent value-add opportunity for investors.
“We are excited to offer our clients the opportunity to invest in this unique townhome property in a prime North Houston submarket with tremendous economic upside potential. This acquisition provides an excellent opportunity for 1031 Exchange investors anticipating a close on their down leg property in 2024,” commented Karen E. Kennedy, President and Founder of NAS Investment Solutions and National Asset Services. “The local area is a thriving hub of diverse industry and innovation that is on a solid path to more growth and development, and we are excited to be part of it.”
Read article about the North Houston Economy.
Since 2008, NAS has served 2,612 investment clients and has established an impressive track record for investment property management. The history includes generating over $662 million in cash distributions to property investors and managing a commercial real estate portfolio of 186 diverse commercial properties, comprised of 25.3 million square feet, in thirty-one states. The overall value of NAS’ managed portfolio in the company’s 15-year history, totals over $3.34 billion.
About NAS Investment Solutions (NASIS)
NAS Investment Solutions was created to leverage National Asset Services’ experience in investment property management by identifying, acquiring, and enhancing commercial real estate investments across all sectors of the real estate industry. The company is known nationwide for its investing sponsorship of high-quality passive DST investment properties with reliable yield performance.
The company’s website, nasinvestmentsolutions.com offers investment articles, comprehensive information, and a free guide on the 1031 exchange process and for investors seeking passive DST property investments.
