for sale 1612 sampson st - asterra properties · 1612 sampson st for sale 9 townhouse development...

1612 Sampson StFOR SALE9 Townhouse Development Site

Houston, TX 77003

Asterra.com3305 Steck Ave. Suite 250, Austin, TX 78757

Tim Howard512.909.3590

[email protected]

PROPERTY DESCRIPTIONProperty:Sampson & Leeland is a yet-to-be-completed 9-unit townhouse development just a few minutes from the Houston CBD. The development was started in 2017 and is now waiting for a talented builder to take the project over and see it through to it’s completion. The larger lot has already been subdivided such that each townhouse sits on it’s own unique parcel. Of the Nine (9) units to be built on the site, Four (4) exist in a shell condition with the remainder to be started.

Development:Unit 1 is the most complete and sits on the left-most side of the property. The unit, pictured on the front page, is around 80% complete with kitchen cabinets and bathrooms already installed. Units 2, 3 use the same floorplan but are less than 50% complete. While Unit 4, on the right-hand side of those currently standing is in a shell condition with plywood still exposed in some places.

Valuation:The latest government appraisal for the units at Sampson & Leeland shows that each townhouse is valued at $455,000 USD. Recent comps within 3 blocks of the location have sold for $350-$400 / sf.



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LISTING DETAILSPrice: $1,500,000

Property Type: Multifamily, Development

Subtype: Townhouses

Sale Type: Investment

Square Footage: 2,400 - 2,820 SF

Units: 9

Beds: 3

Pads: 5

Lot Size (SF): 1,650

Parking (Per Unit): 2

Very Close to Downtown Houston Original Plans Convey With Purchase

3 Units Close to Completion Site Plan Maximizes Buildable SF

INVESTMENT HIGHLIGHTS

Prime investment opportunity to develop nine townhouses in the sought-after East Downtown neighborhood of Houston. Property was previously marketed as individual units. Ownership would prefer a bulk sale right now. If not sold by mid Q1, 2020, we will complete and sell individually.



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DEMOGRAPHICS

1 MILE 3 MILES

Total Households: 6,099

Total Population: 15,159

Average HH Income: $49,200

Total Households: 66,725

Total Population: 169,639

Average HH Income: $57,546

DISCLAIMER: The information contained herein has been obtained from sources deemed reliable, but has not been verified and no guarantee, warranty, or representation, either express or implied, is made with respect said information. All information contained herein should be independently verified; Agent assumes no legal responsibility for the accuracy thereof. The offering is made subject to errors, omissions, change of price, prior sale or lease, or withdrawal without notice. In accordance with the law, this property is offered without regard to race, creed, national origin, disability or gender.

Projected population growth of 5+% in the next five years.



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Valley Vista152 Lots

LOCATION1612 Sampson is just over 1 mile from Discovery Green in the center of Houston’s downtown core. The development is in the neighborhood of East Downtown. The top-floor patio of each townhouse features panoramic views of the Houston skyline. While traveling to work in the city is just 6 mins driving, 13 mins cycling and 25 mins on foot. The closest Metro rail stop is within site of the front door and leaves every 12-13 mins for the Convention District station.

Kroger

Taco Keto

Mandola’s Deli

Church’s Chicken

Family Dollar

Bohemeo’s

Alfred’s Burger House

Jack in the Box

Taqueria Monchys

Texas Tacos and BBQ

St. Joseph Medical Center

8th Wonder Brewery

Brothers Taco House

+ More

1) 2) 3)



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PHOTOS - EXTERIOR



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PHOTOS - INTERIOR



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Aste

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for sale 1612 sampson st - asterra properties · 1612 sampson st for sale 9 townhouse development...

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