4855 Magnolia Cove Dr Kingwood, TX 77345
The Opportunity
The JaXon is a best-in-class, mid-rise multifamily asset in the heart of Kingwood, one of Houston’s original master-planned communities and most coveted residential addresses. The property combines a fully renovated interior scope with additional value-add potential, allowing new ownership to drive strong rent growth. The wrap-style community with structured parking is a rare product type in the submarket and further distinguished by its location within King’s Harbor, a popular waterfront mixed-use development offering residents walkable access to a curated mix of restaurants, boutique retail, and live events. Supported by strong occupancy, affluent demographics, and limited new supply, the property offers stable in-place cash flow with the opportunity for enhanced returns.
Investment Summary
Investment Highlights
Cash-Flowing, Strong-Performing Asset
- $3.2M+ invested by current ownership, minimizing nearterm capital needs
- 94% average occupancy since 2020, exhibiting consistent cash flow
- No concessions currently offered, supporting strong effective rents
- 3.3% average renewal increases achieved year-to-date
- Fully updated interiors with 9’ ceilings, smart home features, and full-size washers and dryers
- Mid-rise wrap with structured parking, highly differentiated in Kingwood
- Balanced unit mix with 47% 1B and 53% 2B/3B layouts, ideal for suburban renter demand
Revenue Growth Potential For New Ownership
- Upgrade 73% of units to match premium first-floor finishes
- Increase other income by implementing a bulk cable/ Wi-Fi contract to capture an additional revenue stream
- Repurpose underutilized spin room and enhance rooftop terrace to drive rents and retention
Market Support For Higher Rents
- Positioned in mature, highly developed master-planned community with natural barriers-to-entry
- Limited competitive supply with no new construction or planned developments within three miles
- $300 average higher rents at single property in lease-up (77% leased) within three miles
- $104-$189 rent gap between in-place rents and rent comps across unit types
- 11% to 13% projected total rent growth through 2030 with 2% to 4% annual growth projections from third-party sources
Key Demand Drivers For Value Appreciation
- Located within King’s Harbor, a 20-acre waterfront mixed-use destination with 20+ live events per year driving foot traffic and retention.
- $110K average household income within one mile and $1M+ home values in closest neighborhood.
- Significant affordability gap to homeownership, with over 500% premium to own
- 83K jobs nearby and a $111M expansion underway at HCA Houston Healthcare Kingwood.
- Convenient commutes to Generation Park ($8B new development), IAH ($4B new development), and Downtown Houston ($2B new development)
- Zoned to Humble ISD (#5 Best School District) and all A-rated schools, including the district’s #1 middle and high schools
The Location
The Property
Community Amenities
Unit Amenities
Contact Us
Investment Sales
CHRIS YOUNG
Managing Director
972.743-5742
[email protected]
TX CRE #630674
CHRIS CURRY
Senior Managing Director
713.553-0151
[email protected]
TX CRE #566750
JEFFREY SKIPWORTH
Managing Director
214.533-3322
[email protected]
TX CRE #560404
JOEY RIPPEL
Managing Director
601.919-5155
[email protected]
TX CRE #654288
KYLE WHITNEY
Senior Director
713.724-1456
[email protected]
TX CRE #658451
JED DALTON
Associate Director
832.314-5078
[email protected]
TX CRE #787068
TUCKER FAMA
Associate Director
281.923-3856
tucker.fama@berkadia.com
TX CRE #9002106
JACK NEVIL
Financial Analyst
832.457-9734
[email protected]
TX CRE #838490
Mortgage Banking
NICK MURPHY
Senior Director
346.772-2067
[email protected]
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