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kyle whitney
Senior Director (713) 724-1456 kyle.whitney@berkadia.com
TX CRE #658451
jed dalton
Associate Director (832) 314-5078 jed.dalton@berkadia.com
TX CRE #787068
joey rippel
Managing Director (601) 919-5155 joey.rippel@berkadia.com
TX CRE #654288
chris young
Managing Director (972) 743-5742 chris.young@berkadia.com
TX CRE #630674
jeffrey skipworth
Managing Director (214) 533-3322 jeffrey.skipworth@berkadia.com
TX CRE #560404
chris curry
Senior Managing Director (713) 553-0151 chris.curry@berkadia.com
TX CRE #566750
houston, tx office
2229 San Felipe, Ste 1600
Houston, TX 77019 (713) 974-1300 | Berkadia.com
The Location
tucker fama
Senior Financial Analyst (281) 923-3856 tucker.fama@berkadia.com
TX CRE #9002106
ESTEE IBÁÑEZ
AVP, Financial Analysis (713) 469-4512 estee.ibanez@berkadia.com
TX CRE #687201
JOHNNY KING
Director
Mortgage Banking (713) 469-4502 johnny.king@berkadia.com
CUTT ABLESON
Senior Managing Director
Mortgage Banking (713) 469-4503 cutt.ableson@berkadia.com
CARL RASMUSSEN
Associate Director
Mortgage Banking (713) 469-4514 carl.rasmussen@berkadia.com
Price
Terms
Year Built
Total Acreage
Total Units
Total SF
Avg Unit SF
Avg Mkt Rent/SF
Avg Eff Rent/SF
Leased
Occupied
Market
All Cash
2001
10.00
380
454,000
1,195
$1.74
$1.70
94%
93%
Marcella Memorial Heights is one of Houston’s best-located urban multifamily assets. It offers an incomparable combination of entrenched, permanent demand drivers and natural barriers-to-entry. This highly differentiated, early 2000s vintage community cannot be duplicated in today’s market and is available at a discount to replacement cost. Marcella Memorial Heights also benefits from strengthening market fundamentals that are supported by a diminishing new supply pipeline, and its proven interior upgrade potential provides clear pathways to increased cash flow.
The Opportunity
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Investment Summary
Investment Highlights
Investment Highlights (Continued)
Community
The Property
apartment homes
Community Amenities
Investment Sales and Mortgage Banking
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Apartment Home Amenities
CHRIS POLLARD
Managing Director
Mortgage Banking
(214) 360-3839 chris.pollard@berkadia.com
JASON RICE
Senior Managing Director
Mortgage Banking
(214) 360-3811
jason.rice@berkadia.com
Flats, lofts and townhomes available
Classic and upgraded finishes available
9’ to 19’ ceiling heights
Postcard Downtown Houston skyline views available
Art niches, built-in desks, and custom shelves in select units
Ceramic tile, wood-style plank, or concrete flooring
White, black, or stainless appliances
Full-size washers and dryers
Patios and balconies
Wraparound balconies and fenced in private yards in select units
Direct access to Buffalo Bayou Park
Two parking garages with elevators and direct access to units
Reserved parking available
Controlled access
Clubhouse with leasing office
Indoor and outdoor social areas
Resort-style swimming pool
Dedicated building for fitness center
Six, landscaped courtyards
Pedestrian-only, brick paved “Main Street”
Highly accessible and visible location in the heart of Central Houston, only two miles and six minutes from Downtown Houston
Uniquely buffered by multiple parks and undevelopable greenspaces, which limits new development nearby
Outstanding interior value-add opportunities with 142 classic or partially updated units
Fully renovated units are leased with an average $298 premium but range up to $400+
Can implement bulk cable/internet contract to increase other income
Non-commodity product with New Orleans-inspired architectural details, brick paved Main Street, and six central courtyards
Large unit sizes (1,195 average square feet) and incredible floor plan diversity that includes traditional flats, industrial style lofts, and walkup townhomes
Signature address with valuable frontage on Memorial Drive with exposure to more than 80K cars daily
Ultimate Live-Work-Play address with 1M+ jobs within 10 miles and parks, nightlife, restaurants, and grocery-anchored retail within walking distance
$139K average household income within one mile
Significant premium to own with limited home inventory and $1MM+ average prices
New supply at 12-year low in submarket and rent growth to average 3.3% to 3.7% from 2025 to 2027 (CoStar)