The Opportunity
3000 @ Med Center offers opportunistic investors a 323-unit, garden-style multifamily community in receivership primed for a value-add repositioning. Located within five minutes of the Texas Medical Center, the largest medical complex in the world, this asset offers immediate upside through occupancy stabilization and rent growth. With the property operating well below comparable communities, new ownership is poised to achieve significant revenue upside through operational repositioning, interior updates, and strategic management execution. Its value-add potential is wellsupported by its closest comparable, currently achieving 18% higher rents post-renovation.
Set on a prime, urban infill site within a desirable residential pocket west of Main Street, 3000 @ Med Center benefits from sustained renter demand anchored by world-class healthcare, education, and research employment drivers. The submarket’s steady growth and recession-resistant employment base provide investors a durable rent roll and consistent cash flow through market cycles. Supported by proximity to the METRORail and the 610 Loop inside Central Houston, this asset’s location offers unmatched connectivity and livability, setting the stage for substantial NOI growth and long-term value creation under capable new ownership.
investment summary
- Price
- Terms
- Built
- Year Renovated
- Total Acreage
- Total Units
- Total SF
- Avg Unit SF
- Avg Rent/Unit
- Avg Rent/SF
- Leased
- Occupied
Investment Highlights
Revenue Growth Opportunities
- Current 51% occupancy is below historical average (94%) and comps average (93%)
- 100% of interiors can be updated to consistent, modern standards
- 159 units (49%) of unit mix have classic finishes, and 164 units (51%) have a range of updated finishes, including new ceiling fan kits, lighting, and plumbing fixtures
- Can add washer/dryer connections and machines to 310 units (96% of unit mix)
- Can address deferred maintenance and improve curb appeal to improve competitiveness
Market Support for Higher Rents
- $185 or 18% higher average rents at closest and most relevant comp (94% occupied)
- 28 properties within two mile radius at 90%+ occupancy, averaging $100+ higher rents
- $308 rent gap with average Class B rent in the submarket and
- $712 rent gap with average Class A rent in the submarket
- Only two high-rises totaling 824 units are under construction in the TMC
Demand Drivers for Value Appreciation
- Outstanding connectivity to all of Central Houston via Main Street, the METRORail Red Line, the 610 Loop, and Hwy 288
- Positioned in affluent residential corridor in preferable micro location west of Main Street with significant premium to own in surrounding neighborhoods
- Current rents ($1,010) only account for 14% of monthly average income within one-mile radius and 10% of monthly average income within three-mile radius
- $675K average home price in closest residential neighborhood
- Walking distance to NRG Park (350 acres) home of NFL’s Houston Texans, the Houston Livestock Show and Rodeo and year-round entertainment
- Less than five minutes from Texas Medical Center, the eighth largest business district in the U.S. with 50M square feet and 120K jobs
The Location



The Property
Community Amenities
Community Amenities
- Leasing office and clubhouse
- Swimming pool and sundeck
- Fitness center
- Business center
- Laundry facility
- Putting green
- Outdoor social areas and courtyards
- Reserved parking spaces available
- Courtesy officer
- Security camera system
- Gate wise access control via phone app
Unit Amenities
Unit Amenities
- 8′ ceilings
- 2-inch faux-wood blinds
- Wet bars in living areas*
- Hardwood plank flooring in living areas and kitchens
- Pass through kitchens with high bar tops
- Resurfaced countertops
- Grey flat front cabinets with brushed nickel pulls
- Black appliances*
- White appliances*
- Kitchen pantries
- Single basin overmount sinks
- Upgraded lighting and plumbing fixtures*
- Ceiling fans in bedrooms
- Carpeted bedrooms
- Walk in closets with wood shelving
- Framed bathroom mirrors*
- Oval soaking bathtubs
- Linen closets*
- Washer/dryer connections
- Washer/dryers included*
- Private patios or balconies
*In select units
Contact Us
Investment Sales
CHRIS CURRY
Senior Managing Director
+1 (713) 553-0151
[email protected]
TX CRE #566750
JEFFREY SKIPWORTH
Managing Director
+1 (214) 533-3322
[email protected]
TX CRE #560404
CHRIS YOUNG
Managing Director
+1 (972) 743-5742
[email protected]
TX CRE #630674
JOEY RIPPEL
Managing Director
+1 (601) 919-5155
[email protected]
TX CRE #654288
KYLE WHITNEY
Senior Director
+1 (713) 724-1456
[email protected]
TX CRE #658451
JED DALTON
Associate Director
+1 (832) 314-5078
[email protected]
TX CRE #787068
JACK NEVIL
Financial Analyst
+1 (832) 457-9734
[email protected]
TX CRE #838490
Mortgage Banking
JOHNNY KING
Director
+1 (713) 469-4502
[email protected]

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