OVERVIEW

Property:
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.

Location:
1612 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.

Development:
Unit 1 is the most complete and sits on the left-most side of the property. The unit, pictured here, 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.

FEATURES

  • Very Close to Downtown Houston
  • 3 Units Close to Completion
  • Original Plans Convey with Purchase
  • Site Plan Maximizes Buildable SF

PROPERTY

Property Type

Multifamily

Sub-Type

Townhouses

RBA (sf)

2400 - 2820 SF

Floors

3

Year Built

2020

Tenancy

Multi

Construction

Masonry

Parking Type

Surface

Parking Spaces

2 Per Unit

DETAILS

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.

Sale Type

Investment

Price

$1,500,000

AGENTS

Tim Howard

Marketing Director
Email: [email protected]
Direct: 512.909.3590

DOCUMENTS

PHOTOS