For Sale Contact for pricing
Property Type Other
Units 38
Additional Rent Contact for pricing
Year Built 1960
Date Updated Nov 4, 2024

Mangum Oaks is a well-built 38 unit multifamily property located in the desirable northwest Houston neighborhood of Garden Oaks / Oak Forest. This looks to be an outstanding investment opportunity with current rental rates sitting approximately $250 below comparable properties. The rental rates are intentionally being held below market as the mission of the non-profit ownership. Additional revenue streams can be earned via improved interiors, technology (internet, digital locks and thermostats), and valet trash. The property provides a good mix of one- and two-bedroom units, mature landscaping, gas stove tops and all new HVAC systems.

Mangum Oaks sits on 1.02 acres of beautiful green space providing outdoor living for the residents. Additionally, this tranquil, neighborhood setting enhances the desirability of the units and shows the thoughtful planning and quality construction of the property.

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Attachments

mangumoaks.sharplaunch.com (PDF) opens in new window

Highlights

Excellent location in the highly desirable Oak Forest Neighborhood of Northwest Houston. The Garden Oaks/ Oak Forest neighborhood is consistently ranked as one of the hottest neighborhoods in Houston.
Rents are significantly below market comparable properties. Owner is a non-profit with their main mission to provide affordable housing in good neighborhoods. They have not been raising rent to stay on mission.
Current owner has not done a full rehab to interiors. They have only done heavy make-ready units. We estimate $5,000/unit in upgrades to get to the increased rent level of comparable assets.
All HVAC have been replaced in the last 18 months. Air Conditioners are the top maintenance request among all multifamily in Houston. Previous owner replaced significant amount of underground plumbing and gas lines to the buildings. All breaker boxes have been upgraded.
The average household income within a 1 mile radius is over $82,000. Median Household Income within a 1 mile radius is over $55,000.
New owner can increase NOI by implementing RUBS for water, gas and trash. There is also potential to add an Internet package that could increase value by approximately $250,000. More aggressive management of economic occupancy and controllable expenses should yield significantly higher NOI.

Contacts

Abraham Garza III

GREA

Jordon Emmott

GREA

Shayan Hasnain

GREA

Jamie Harrington

GREA

Location

Getting Around

Walk Score ®
35/100 Car-Dependent
Transit Score ®
29/100 Some Transit
Bike Score ®
60/100 Bikeable

Map
Street

City Houston, TX
Neighborhood Oak Forest - Garden Oaks
Zip Code 77092
Market Houston

Points of Interest

Northline Transit Center/HCC

4.85 miles
Melbourne/North Lindale

5.36 miles
Lindale Park

5.58 miles
Cavalcade

5.80 miles
Moody Park

6.15 miles
Fulton/North Central

6.74 miles
Quitman/Near Northside

6.77 miles
Theater District (eastbound)

7.48 miles
Theater District (westbound)

7.52 miles
UH-Downtown

7.63 miles

Texaco

0.65 miles
Swift

0.67 miles
Shell

0.70 miles
One Stop Express

0.70 miles
Mobil

0.75 miles
Blue Bell Express

0.84 miles
Citgo

1.05 miles
Corner Food Mart

1.07 miles
Chevron

1.28 miles
Fuel Depot

1.33 miles

Northwest Transit Center Parking

3.67 miles
North Shepherd Park & Ride

3.76 miles
West Sports Complex Parking Lot

4.31 miles
East Sports Complex Parking Lot

4.40 miles
Northline Transit Center Parking

4.83 miles
Omni Houston Hotel Parking Garage

5.19 miles
Village Towers Parking Garage

5.77 miles
Bayou Greenways Park Trailhead & Parking

5.81 miles
West Little York Park & Ride

6.17 miles

Baron Inn

1.23 miles
La Quinta Inn

1.34 miles
Days Inn

1.37 miles
Woodland Inn & Suites

1.40 miles
Best Western Plus Northwest Inn & Suites

1.40 miles
Motel 6 Houston

1.50 miles
Super 8

1.50 miles
Rodeway Inn

1.51 miles
Americas Best Value Inn & Suites

1.58 miles
Scottish Inn

1.61 miles

Mytiburger

0.45 miles
Little Bitty Burger Barn

0.85 miles
Popeyes

0.97 miles
Whataburger

0.98 miles
Daddy's Pizza

1.02 miles
Jack in the Box

1.03 miles
Little Casita Mexican Restaurant

1.05 miles
Domino's

1.09 miles
DQ Grill & Chill

1.15 miles
Mojarra's Seafood

1.20 miles

Smith Elementary School

0.38 miles
KIPP Houston PNC Opportunity Campus

0.50 miles
Johnson Memorial School

0.56 miles
Saint Ambrose School

0.64 miles
Stevens Elementary School

0.89 miles
Scarborough High School

0.97 miles
St. Michael's Day School

1.07 miles
Frank Black Middle School

1.16 miles
Wainwright Elementary School

1.17 miles
Oak Forest Elementary School

1.35 miles

The Little Learning Place

2.28 miles
La Petite Academy

2.82 miles
The Kenworthy School

3.07 miles
The Goddard School of Houston

3.36 miles
Little People Learning Tree, LLC

3.37 miles
Ages & Stages Child Care Center

3.41 miles
Early Learning Campus of the Awty International School

3.41 miles
Alianza Eco International School

3.97 miles
Super Kids Academy

4.19 miles
Mariner Montessori at Heights

4.59 miles

Frequently Asked Questions

How much does MANGUM OAKS cost?

The sale price for MANGUM OAKS is available upon request. Contact the listing broker for more information.

What is the total square footage of MANGUM OAKS?

MANGUM OAKS totals 25,302 square feet.

When was this property built?

MANGUM OAKS was built in 1960.

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