MANGUM OAKS

4702 Mangum Rd, Houston, TX 77092

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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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

broker

Abraham Garza III

GREA

broker

Jordon Emmott

GREA

broker

Shayan Hasnain

GREA

broker

Jamie Harrington

GREA

Location

Getting Around

  • Walk Score ®

    35/100 Car-Dependent

  • Transit Score ®

    29/100 Some Transit

  • Bike Score ®

    60/100 Bikeable
Powered by Walk Score ®
  • 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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