Search
 

$2M Claims 64 Units in Bellaire

HOUSTON-The Valerie, 95%-leased property in an elite neighborhood, sells to an Englewood, CO-based buyer, who beat five others jockeying for the class B deed. The seller takes the gain for a 1031 Exchange.

By Jennifer Brenner Andrade | Updated on June 18, 2004

HOUSTON-The 64-unit Valerie, a class B property in an elite neighborhood of southwest Houston, was picked up for close to the $2.2-million asking price by an Englewood, CO-based buyer.

REA Property LLC outdistanced five other would-be buyers for the 95%-leased complex at 6226 Valerie St. in the Bellaire neighborhood. Chip Nash with the Houston office of Hendricks & Partners tells GlobeSt.com that the complex, marketed for four months, has a history of staying full or close to it. The units, ranging from 629 sf to 920 sf, rent for $435 per month to $535 per month.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.