the inverness baytown & the inverness gardens · the inverness baytown and the inverness...

A Multifamily Investment Opportunity with Value-Add potential in Baytown, Texas

OFFERING BROCHURE98 UNITS

The Inverness Baytown & The Inverness Gardens

PROPERTIES CAN BE PURCHASED TOGETHER OR SEPARATELY

9 0 7 n p r u e t t s t & 1 3 0 0 e j a m e s s t | b a y t o w n , t e x a s | 7 7 5 2 0

COMMUNITY AMENITIES

3

PRICE TBD by Market

TERMS All Cash

The Inverness Baytown and The Inverness Gardens are a combined 98-unit multifamily opportunity located in Baytown, Texas. The Inverness Baytown is comprised of 66 units and was built in 1972. The Inverness Gardens has a total of 32 units and was built in 1960.

The properties offers spacious one to three -bedroom floorplans ranging from 565 to 1,122 square feet. The apartments include upgraded amenities, faux wood flooring, spacious kitchen & master bedrooms, walk in closets, spacious living areas & community courtyards.

The properties are located just 25 miles east of Downtown Houston with quick access to Interstate 10, Highway 146, & Grand Parkway. The properties sits in quiet neighborhoods with quick access to Baytown’s most popular attractions. Located by the water, residents are conveniently near Baytown’s Houston Ship Channel & bays.

The Port of Houston is made up of the Port of Houston Authority and the 150+ private industrial companies along the 52-mile Houston Ship Channel. As one of the world’s largest seaports, The Port of Houston has been instrumental in Houston’s development as a center of international trade. There has been $50 billion worth of chemical plant constructions since 2013 due to the petrochemical boom creating new job opportunities in the area. The industry is projected to help create 195,000 jobs in the area by 2023. Source: Port of Houston Authority

Baytown’s population has grown by more than 10% since 2010 - The Inverness Baytown & The Inverness Gardens collectively have a 100% occupancy rate. The properties are located near major employers such as Exxon Mobil - the largest petroleum & petrochemical complex in the United States , Chevron Phillips, Goose Creek Independent School District, and Houston Methodist Baytown Hospital. HEB & Kroger are also in the immediate trade area.

The area offers several retail centers and entertainment venues such as: Town Square (1.2 miles),Baytown Nature Center (5.5 miles), Arts, Culture, & Entertainment District (1.0 miles), & Kemah Boardwalk (17.3 miles) . Fidelis Realty Partners acquired the San Jacinto Mall (4.9 miles) and plans to redevelop the space to “The San Jacinto Marketplace” which will become the area’s premier shopping, dining, and entertainment destination.

The Inverness Baytown and The Inverness Gardens are an excellent investment opportunity with a unique position to capitalize on the region’s population and rental rate growth.

• Located in Baytown, east of Houston

• Rental rate upside as area class A rental comps are achieving an average of $1.33 per SF compared to the subject’s $1.16 per sf average

• City inspection repairs of $100,000 spent in last 3 months on maintenance and upgrades (all city inspections passed)

• Capital Improvements of approximately $155,000 - The Inverness Baytown and $60,000 - The Inverness Gardens

• Little or no deferred maintenance

• According to Apartment Data Services, the Baytown submarket currently ranks at #8 of 42 total in Houston’s Hottest Performing Submarkets with an annualized growth of 7.5% in rental rates and 1.5% in absorption over the past 3 months

• Within 25 miles distance east of downtown Houston - the leading city in Harris County with an employee base of of 1.11 million employees

• Quick access to the Arts, Culture, & Entertainment District, Town Square, & several area parks

• Within the Goose Creek Consolidated Independent School District - the largest public school district in Baytown

• Baytown offers numerous outdoor activites for boating, fishing, golfing, & hike/bike trails

INVESTMENT HIGHLIGHTS

PROPERTIES OVERVIEW

2

33

INVERNESS

BAYTOWN

3

§ W/D Full Size Connections*

§ 9ft ceilings

§ Refrigerator

§ Patio/Balconies*

§ Ceiling Fans*

§ Hardwood Fllors

§ Kitchen pantries*

§ Faux Wood Floors*

§ Ceramic Tile*

§ Baseboards

§ Two-tone paint*

§ Vanities*

§ Dishwashers (all units)

§ Disposal

§ Mini-blinds

§ Covered Parking

§ Walk-in Closets*

§ Coat Closet*

INTERIOR FEATURES

* in select units

§ Sparkling swimming pool

§ Laundry care center

§ Community courtyard

§ Beautiful Landscaping

§ Easy Access to Freeways and Shopping

§ Guest Parking

§ On-call Maintenance

§ Public Parks Nearby

§ Senior and Military Discounts

COMMUNITY AMENITIES

THE INVERNESS BAYTOWNINVERNESS

BAYTOWN

4

ADDRESS

907 N Pruett St

Baytown, TX 77520

PROPERTY

Units 66 Total Rentable Sf 43,402

Year Built 1972 Number of Buildings 8

Avg. Unit Sf 657 Stories 2

Avg. Rent / Unit $778 Lot Size (Acres) 2.03

Avg. Rent / Sf $1.18 Density (Units / Acre) 32.50

Physical Occupancy (May 2019)

97%

CONSTRUCTION

Style Garden-style

Foundation Concrete slab

Framing Brick, Wood

Exterior Brick, Wood

Roof Shingle

Paving Concrete

Wiring Copper

HVAC Individual ground-mounted & roof mounted units

Plumbing Galvanized

SCHOOLS

School District Goose Creek I.S.D.

Elementary Lamar Elementary School

Junior High Horace Mann Junior High School

High Lee High School

PARKING

Spaces 99 uncovered spaces, 15 covered, 4 handicap

Ratio 1.79 spaces per unit

UTILITIES

Electrical Individually metered

HVACIndividual ground mounted & roof units

Water N/A

Hot Water Heating Method Gas

Hot Water Delivery Method Boiler

Individual Heater Size N/A

DEPOSITS/OTHER FEES

Application Fee $50 per applicant

1 Bedroom Deposit $200



Pet Deposit $300 per pet

Pet Deposit Refundable $0.00

Pet Rent Charge $15 per month

Pet Restrictions 2 pet max, up to 25 lbs

THE INVERNESS BAYTOWN : SITE INFORMATION

INVERNESS

BAYTOWN

5

INVERNESS

BAYTOWN

6

14

INVERNESS

BAYTOWN

7

8

SITE PLAN

THE INVERNESS BAYTOWN

N

N. PRUETT ST.

CO

VE

RE

D P

AR

KIN

G

= C L O T H E S C A R E C E N T E R

INVERNESS

BAYTOWN

2 Bedroom / 1 Bath729 SF

9

FLOORPLANS




INVERNESS

BAYTOWN

§ 9ft ceilings

§ Refrigerator

§ Ceiling Fans (all units)

§ All white appliances (all units)

§ Faux Wood Floors

§ Baseboards

§ Two-tone paint

§ Dishwashers

§ Disposal

§ Mini-blinds

§ Walk-in Closets*

INTERIOR FEATURES

* in select units

§ Laundry care center

§ Community courtyard

§ 24-hr Emergency Maintenance

§ Carports

COMMUNITY AMENITIES

THE INVERNESS GARDENS

INVERNESS

GARDENS 10

THE INVERNESS GARDENS : SITE INFORMATION

ADDRESS

1300 E James St

Baytown, TX 77520

PROPERTY

Units 32 Total Rentable Sf 19,674

Year Built 1960 Number of Buildings 3

Avg. Unit Sf 615 Stories 2

Avg. Rent / Unit $683 Lot Size (Acres) 0.85

Avg. Rent / Sf $1.11 Density (Units / Acre) 37.74

Physical Occupancy (May 2019)

94%

CONSTRUCTION

Style Garden-style

Foundation Concrete slab

Framing Brick, Wood

Exterior Wood; Renoved in 2018

Roof Pitched with shingle

Paving Concrete

Wiring Copper

HVAC Roof mounted units

Plumbing Galvanized

SCHOOLS

School District Goose Creek I.S.D.

Elementary Lamar Elementary School

Junior High Horace Mann Junior High School

High Lee High School

PARKING

Spaces 6 uncovered spaces, 31 covered, 1 handicap

Ratio 1.18 spaces per unit

UTILITIES

Electrical Individually metered

HVAC Roof mounted units

Water N/A

Hot Water Heating Method Gas

Hot Water Delivery Method Boiled

Individual Heater Size N/A

DEPOSITS/OTHER FEES

Application Fee $50 per applicant



Pet Deposit $300 per pet

Pet Deposit Refundable $0.00

Pet Rent Charge $15.00 per month

Pet Restrictions 2 pet max, up to 25 lbs

INVERNESS

GARDENS

11

INVERNESS

GARDENS 12

15

INVERNESS

GARDENS

13

E. TEXAS AVE.

SITE PLAN


N

E. JAMES AVENUE

DANU

BINA

ST.

CO

VE

RE

D P

AR

KI N

G

CO

VE

RE

D P

AR

KI N

G

CO

VE

RE

D P

AR

KI N

G

INVERNESS

GARDENS

CO

UR

TY

AR

D

14


AERIAL

THE INVERNESSBAYTOWN

THE INVERNESSGARDENS

E. J

AMES

AVE

.

N. PRUETT ST.

DANUBINA ST.

N

E. TEXAS AVE.

N. ALEXANDER DR.

HOUSTON SHIP CHANNEL

1.4 MILES

HOUSTON CBD(26 MILES WEST)

BAYTOWN REFINERY7,000 EMPLOYEES

3,400 ACRES

5/15/2019 Exxon Mobil OKs $2B Baytown chemical expansion project - Houston Business Journal

https://www.bizjournals.com/houston/news/2019/05/02/exxon-oks-2b-baytown-chemical-expansion-project.html?s=print 1/2

COURTESY EXXON

The skyline of Exxon’s Baytown refinery.

From the Houston Business Journal: https://www.bizjournals.com/houston/news/2019/05/02/exxon-oks-2b-baytown-chemical-expansion-project.html

Exxon OKs $2B Baytown chemical expansion projectMay 2, 2019, 2:00pm CDT

Irving, Texas-based Exxon Mobil Corp. (NYSE: XOM), which has a major presence inHouston, has decided to move forward with a $2 billion project in Baytown.

Exxon will expand its Baytown chemical plant, creating about 2,000 jobs duringconstruction, according to a May 2 press release. The expansion is expected to start upin 2022.

Once online, the expansion is expected to create at least 25 permanent positions payingat least $62,970 per year, according to documents filed last summer with the Texascomptroller.

The expansion will add a new Vistamaxx performance polymer unit, which will produce“products that offer higher levels of elasticity, softness and flexibility,” per the May 2 release. It will have a capacity of400,000 tons of Vistamaxx polymers per year, which will “contribute to a reduction in materials used and increasedperformance in everyday products,” per the release.

Exxon also will be able to enter the linear alpha olefins market, producing about 350,000 tons per year. “Linear alpha olefinsare used in numerous applications, including high-performing engine and industrial oils, waxes and building blocks forsurfactants, polyethylene plastic for packaging, and other specialty chemicals,” per the release.

According to Exxon’s release, the 100-year-old Baytown complex is the largest integrated petrochemical complex in the U.S.It spans about 3,400 acres along the Houston Ship Channel and includes a refinery, chemical plant, olefins plant, plasticsplant and global technology center. Last year, Exxon completed a new 1.5 million-ton-per-year ethane cracker at its Baytowncomplex after four years of construction.

“Our Baytown chemical expansion will put us in a solid position to maximize the value of increased Permian Basin productionand will deliver higher-demand, higher-value products produced at our Gulf Coast refining and chemical facilities,” ExxonChairman and CEO Darren Woods said in the release. “Global demand for chemicals is expected to be greater than energydemand growth and GDP growth over the next 20 years.”

The newly announced expansion project is in addition to Exxon’s Growing the Gulf initiative, which the company announcedin 2017. The $20 billion, 10-year initiative will build and expand 11 manufacturing facilities, according to previous pressreleases. Investments began in 2013 and are expected to continue at least through 2022.

The recently completed ethane cracker plus other projects in Mont Belvieu, Beaumont and other areas along the coast are allpart of the Growing the Gulf initiative. In Beaumont, Exxon recently made a final investment decision to move forward with amajor expansion of its refinery.

Another project associated with the initiative is Exxon's joint venture with Saudi Basic Industries Corp., known as SABIC, for aproposed $10 billion, 1,400-acre petrochemical complex in San Patricio County, Texas. The plans include an ethane steamcracker that could produce 1.8 million tons of ethylene each year.

Olivia PulsinelliSenior web editorHouston Business Journal

FOR THE EXCLUSIVE USE OF [email protected]

MENU Account

Source: HOUSTON BUSINESS JOURNAL, May 2019https://www.bizjournals.com/houston/

15


16

CONSOLIDATED PROFORMAAN- MONTH- PER PER SF

Gross Potential Rent $73,226 $8,966 $13.93

Proj. Increase Market Rents 8.00% 70,297 5,858 717 1.11

Loss/Gain to Lease 2.00% (18,980) (1,582) (194) (0.30)

Adjusted Gross Potential 930,029 77,502 9,490 14.74

Vacancy Loss 4.00% (37,201) (3,100) (380) (0.59)

Non Revenue Units 1.00% (9,300) (775) (95) (0.15)

Bad Debt 0.67% (6,251) (521) (64) (0.10)

Total Rental Income 877,276 73,106 8,952 13.91

Other Income 37,006 3,084 378 0.59

Utility Reimbursements 74,712 6,226 762 1.18

Effective Gross Income 988,995 82,416 10,092 15.68

Operating Expenses

Payroll & Benefits 117,600 9,800 1,200 1.86

General & Administrative 16,170 1,348 165 0.26

Repairs & Maintenance 53,900 4,492 550 0.85

Contract Services 16,170 1,348 165 0.26

Advertising & Promotion 4,900 408 50 0.08

Controllable Expenses 208,740 17,395 2,130 3.31

Utilities 78,212 6,518 798 1.24

Insurance 29,400 2,450 300 0.47

Management Fee 29,670 2,472 303 0.47

Gross Receipts Tax 3,274 273 33 0.05

Property Taxes 153,372 12,781 1,565 2.43

Operating Expenses Before (41,889) (5,129) (7.97)

Replacement Reserves 24,500 2,042 250 0.39

Total Operating Expense (43,931) (5,379) (8.36)

NET OPERATING INCOME $38,486 $4,713 $7.32

Unit Description

# of Units

% of Total

Avg Unit SF

Market Rent / Unit

Market Rent /

SF

Efficiency 2 12.0% 485 $599 $1.24

1Bd/1Bth 24 36.4% 512 $675 $1.32

1Bd/1Bth 2 3.0% 540 $699 $1.29

1Bd/1Bth 6 9.1% 600 $705 $1.18

1Bd/1Bth 4 6.1% 720 $870 $1.21

2Bd/1Bth 4 6.1% 780 $860 $1.10

2Bd/2Bth 8 12.1% 792 $880 $1.11

2Bd/2Bth 6 9.1% 814 $899 $1.10

2Bd/2Bth 8 12.1% 750 $850 $1.13

3Bd/2Bth 2 3.0% 1,122 $1,099 $0.98

Totals/Avg 66 100% 658 $778 $1.18

PROFORMA NOTES:1. Gross Potential Rent is per the current rent schedule2. Other Income and Utility Reimbursements is based on the

trailing 3 actuals through Mar. 20193. Utilities expense based on trailing 9 actuals through Mar.

20194. Management Fee is based on 3.00% of Effective Gross

Income5. Property Taxes: 140% of 2019 assessed tax value at 2018 tax

rate6. Replacement reserves are estimated to be $250 per unit and

Tax Appraisal District

Harris County

2018 Tax Rate 3.129190%

Property ID # 0651-12000-0005

Land $309,610

Improvements $2,591,657

Total 2018 Tax $7,955,430

UNIT MIXES:PROPERTY TAXES

Tax Appraisal District

Harris County

2018 Tax Rate 3.129190%

Property ID # 0410-21001-0602

Land $92,328

Improvements $507,349

Total 2018 Tax $599,677



Unit Description

# of Units

% of Total

Avg Unit SF

Market Rent / Unit

Market Rent /

SF

1Bd/1Bth 30 93.8% 603 $675 $1.12

1Bd/1Bth 2 6.3% 792 $799 $1.01

Totals/Avg 32 100% 615 $683 $1.11


TOTALS / AVERAGE 77% 854 $1,029 $1.21

17

1

2

3

4

5

b

PROPERTY/ADDRESS

# OFUNITS OCC.

YEARBUILT NRSF

UNIT TYPE

# OF UNITS

% OF TOTAL

AVG UNIT SF

MARKETRENT

$MARKET RENT PSF

Bay Terrace 1502 Nolan

Baytown, TX 77520

130 99% 1983 102,070 1BR2BR3BR4BRTotals / Avg

335734

6130

25%44%26%

5%

600814889941785

$689$822

$1,116$1,261

$885

$1.15$1.01$1.26$1.34

$1.13

Bluebird510 Williams

Baytown, TX 77520

67 88% 1965 45,442 1BR2BRTotals / Avg

452267

67%33%

605828678

$792$962$848

$1.31$1.16

$1.25

Ranch At Rollingbrook, The3403 Garth Rd

Baytown, TX 77521

219 94% 1983 151,310 1BR2BRTotals / Avg

13683

219

62%38%

567895691

$691$928$782

$1.22$1.04

$1.13

Reserve On Garth Road3700 Garth Rd

Baytown, TX 77521

251 93% 1980 191,487 1BR2BR3BRTotals / Avg

139104

8251

55%41%

4%

641904

1,051763

$752$972

$1,109$855

$1.17$1.08$1.06

$1.12

Verve3201 Garth Rd

Baytown, TX 77521

TOTALS/AVERAGE

56 91%

93.8%

1967 46,732 1BR2BR3BRTotals / Avg

2033

356

36%59%

5%

620920

1,324835

743

$799$999

$1,225$940

$811

$1.29$1.09$0.93

$1.13

$1.09

The Inverness Baytown & The Inverness Gardens 98 97% 1972, 1960 63,076 EFF

1BR2BR3BRTotals / Avg

26232

298

485565775

1,122644

$599$679$867

$1,099$747

$1.24$1.20$1.12$0.98

$1.16

Source: Apartment Data Services, Inc., May 2019

LAKECONROE

BAYTOWN

12

3

BAYTOWNNATURE CENTER

5

4


&THE INVERNESS

GARDENS

RENT COMPARABLES

HOUSTONRACEWAY

BURNETBAY

PIRATES BAYWATERPARK


PROFORMA NOTES UNIT MIX

18

SUBMARKET OVERVIEW

# of Operating Communities 56

# of Operating Units 10,530

Avg. Units / Community 188

Avg. Size (SF) 856

Avg. Price ($/month) $901

Avg. Rental Rate (¢/SF/month) 1.05

Avg. Occupancy 88.4%

occupancy: Last 3 months 6.9%

Last 6 months 2.3%

Last 12 months 0.5%

rental rates: Last 3 months 7.5%

Last 6 months 8.2%

Last 12 months 3.8%

4/19 to 6/19* Units absorbed 158

% of market 1.5%

1/19 to 3/19 Units absorbed 241

% of market 2.36%


% of market 1.14%


% of market 0.32%

Units built in 2014 or after 1,238

% of market 11.8%

Avg. YOC / community 1985

Avg. YOC / unit 1989

Avg. Security Deposit $239

Avg. Pet Deposit $329

# of Communities with:

Move-in Specials 2

Months-Free Specials 5

Floorplans Specials 17

Deposits/Rental ConcessionsThis table shows the deposits and rental concessions for the market. Three types of concessions are tracked: move-in specials, months free specials, and floorplan specific specials.

ConstructionThis table shows the new construction that has occurred in the market. The average year of construction is calculated based on the number of communities and the number of units in the market.

Occupancy and Rental Rate TrendsThis table shows the occupancy and rental rate trends that have occurred over the last 3, 6, and 12 months. These trends are expressed in annualized terms.

Market SummaryThis table shows the general statistics for the market. The prices and rental rates are displayed as effective - net of concessions and electric utility adjustments.

AbsorptionThis table shows the absorption (change in the number of occupied units) for the market on a quarterly basis. The table displays the number of units absorbed as well as the percentage of units absorbed in relation to the total number of units in the market. (* indicates partial quarter)

Floorplans (ALL)The table shows statistics for ALL the units in the submarket. Along with the totals, the table displays the information by Class (A,B,C and D). Prices and rental rates are displayed as effective - net of concessions and electric utility adjustments.

Total Class A Class B Class C Class D

# of Communities 56 8 18 20 10

# of Units 10,530 2,198 3,577 3,027 1,728

Avg. Size (SF) 856 901 832 822 907

Avg. Price ($/month) $886 $1,251 $899 $791 $652

Avg. Rate (¢/SF/month) 1.05 1.39 1.08 0.96 0.72

Occupancy 88.4% 78.9% 90.0% 92.6% 90.0%

BAYTOWN

Source: Apartment Data Services, Inc., July 2019


19

AREA DEMOGRAPHICSRadius 1 Mile 3 Mile 5 Mile

Population

2024 Projection 13,596 63,242 87,862

2019 Estimate 12,979 59,970 83,006

2010 Census 12,484 55,191 74,737

Growth 2019 - 2024 4.75% 5.46% 5.85%

Growth 2010 - 2019 3.97% 8.66% 11.06%

2019 Population by Hispanic Origin 8,570 30,002 39,076

2019 Population 12,979 59,970 83,006

White 10,630 81.90% 46,268 77.15% 63,650 76.68%

Black 1,804 13.90% 10,694 17.83% 15,110 18.20%

Am. Indian & Alaskan 166 1.28% 586 0.98% 863 1.04%

Asian 178 1.37% 1,367 2.28% 1,903 2.29%

Hawaiian & Pacific Island 13 0.10% 62 0.10% 77 0.09%

Other 187 1.44% 993 1.66% 1,401 1.69%

U.S. Armed Forces 0 0 0

Households

2024 Projection 4,188 22,021 30,359

2019 Estimate 4,001 20,868 28,670

2010 Census 3,878 19,169 25,812

Growth 2019 - 2024 4.67% 5.53% 5.89%

Growth 2010 - 2019 3.17% 8.86% 11.07%

Owner Occupied 2,432 60.78% 11,177 53.56% 16,556 57.75%

Renter Occupied 1,569 39.22% 9,691 46.44% 12,114 42.25%

2019 Households by HH Income 4,000 20,868 28,671

Income: <$25,000 1,093 27.33% 5,098 24.43% 6,585 22.97%

Income: $25,000 - $50,000 1,145 28.63% 5,525 26.48% 7,404 25.82%

Income: $50,000 - $75,000 971 24.28% 3,908 18.73% 5,089 17.75%

Income: $75,000 - $100,000 359 8.98% 2,491 11.94% 3,481 12.14%

Income: $100,000 - $125,000 197 4.93% 1,748 8.38% 2,594 9.05%

Income: $125,000 - $150,000 154 3.85% 828 3.97% 1,515 5.28%

Income: $150,000 - $200,000 73 1.83% 719 3.45% 950 3.31%

Income: $200,000+ 8 0.20% 551 2.64% 1,053 3.67%

2019 Avg Household Income $52,222 $64,619 $69,136

2019 Med Household Income $42,937 $48,828 $51,679

Source: CoStar Realty Information, Inc, May 2019


20

MAJOR EMPLOYERS

Houston Methodist San Jacinto

Lee College

Goose Creek Independent School District 2.9 3,015

Houston Methodist Baytown Hospital 2.3 1,630

Exxon Mobil Baytown Complex 4.4 7,000

Bayer Corporation 5.1 1,100

JSW Steel 7.6 986

Convestro 6.8 1,000

City of Baytown 2.1 801

Chevron Phillips 9.0 800

Walmart Distribution Center 6.1 504

Home Depot Distribution Center 5.3 451

Lee College 0.7 343

Miles# of

Employees

Chevron Phillips

ExxonMobil


21

AREA ATTRACTIONSParks and Recreation Miles

East Little League Park 0.7

Roseland Park 1.4

Pelly Park 1.8

Bicentennial Park 1.9

Goose Creek Park 2.0

Duke Hill Park 2.6

Evergreen Point Golf Club 3.2

Wayne Gray Sports Complex 3.4

Jenkins Park 4.3

Retail / Entertainment

Arts, Culture, & Entertainment District 1.0

Town Square 1.2

Eddie V. Gray Wetlands Education Center 1.2

Calypso Cove 2.7

Buc-ee’s 5.4

Baytown Nature Center 5.5

Baytown Soccer Park 7.6

San Jacinto Mall 4.9

Royal Purple Raceway 7.3

Pirates Bay Waterpark 4.6

Kemah Boardwalk 17.3

Educational Institutions

Lee College 0.7

San Jacinto College 13.7


LOCATION MAP

22

Houston

Pasadena

Conroe

WillisLakeConroe

LakeHouston

TrinityBay

Baytown

Spring

Atascocita

Sugar Land

Katy

The Woodlands

610

69

45

45

10 10

8

6

288

99

99

105

105

249290

90

0 105Miles




AERIALS

23

HOUSTON METHODISTBAYTOWN HOSPITAL

N

N

HOUSTON CBD(26 MILES WEST)

N. PRUETT ST.

N. P

RUET

T ST.



3,400 ACRES

CENTRAL LITTLE LEAGUE

PARK• Food Town• Discount Tire• Family Dollar• Amegy Bank• Meineke Car Care• Check n Go• McDonald’s• Pizza Hut• Whataburger• Little Caesar’s Pizza


3,400 ACRES

• Baytown Health• Palais Royal• Dollar General• Dollar Tree• CVS• Walgreen’s• Auto Zone

GARTH RD.



AERIALS

N

24

N

HOUSTON SHIP CHANNEL / PORT OF HOUSTON

E. JAMES AVE.

KEMAH / CLEAR LAKE(17 MILES SOUTH)

N. PRUETT ST.

DANUBINA ST.



N


3,400 ACRES

W. TEXAS AVE.LEE COLLEGE

BICENTENNIAL PARK• Food Town• Discount Tire• Family Dollar• Amegy Bank• Meineke Car Care• Check n Go• McDonald’s• Pizza Hut• Whataburger• Little Caesar’s Pizza

LEE HIGH SCHOOL


25

�

TREC Information About Brokerage Services - Houston, Austin, & San Antonio

Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS:

11-2-2015

EQUAL HOUSING OPPORTIJNITY

• A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER'S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker's own interests;• Inform the client of any material information about the property or transaction received by the broker;• Answer the client's questions and present any offer to or counter-offer from the client; and• Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner's agent must perform the broker's mini mum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer's agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker's minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller's agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:

• Must treat all parties to the transaction impartially and fairly;• May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and

buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.• Must not, unless specifically authorized in writing to do so by the party, disclose:

o that the owner will accept a price less than the written asking price;o that the buyer/tenant will pay a price greater than the price submitted in a written offer; ando any confidential information or any other information that a party specifically instructs the broker in writing not to

disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker's duties and responsibilities to you, and your obligations under the representation agreement.• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker's services. Please acknowledge receipt of this notice below and retain a copy for your records.

Transwestern Property Company SW GP, L.L.C.

Licensed Broker /Broker Firm Name or Primary Assumed Business Name

Steve Ash Designated Broker of Firm

Licen�ed Supervisor of Sales Agent/ Associate

Sales Agent/Associate's Name

466196 License No.

392519 License No.

License No.

License No.

713.270. 7700 Email Phone

[email protected] 713.270.3365 Email Phone

Email Phone

Email Phone

Buyer/Tenant/Seller/Landlord Initials Date

Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov IABS 1-0

[email protected]

Edward J III Cummins 409034 [email protected] 713.272.1288

Guadalupe Olivares 619668 [email protected] 713.272.1290

The information provided herein was obtained from sources believed reliable; however, Transwestern makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice. Copyright © 2019 Transwestern. 10-1035.0610.This offering is submitted and received with the understanding that all offers for the acquisition of the herein described property will be conducted through Transwestern. The Seller, Transwestern expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or terminate discussions with any entity at any time with or without notice.

1900 West Loop South, Suite 1300 Houston, Texas 77027 | T 713.270.7700 | F 713.271.8172 | www.transwestern.com

Ed CumminsSenior Vice [email protected]

Lupe OlivaresAssistant Vice [email protected]

INVESTMENT CONTACTS PROPERTY TOUR INQUIRIES

Tranica HendersonMarketing [email protected] J. Chaudary

Realtor – REALM Real Estate [email protected]

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