Vineyard Trace Apartments was built in 1978 and consists of a two story, garden-style apartment community located in the Champions East submarket of Houston, Texas. The property is approximately 5 miles from Bush Intercontinental Airport and 6 miles from the new Pinto Business Park, which will employ 10,000+ new workers in a 1,000,000-square foot distribution center. We have budgeted $952,000 in capital expenditures consisting of $3,000 per unit for interiors upgrades and $225,000 for exterior and community amenities. Market study indicated that a $65 average rent increase can be achieved through our interior upgrade program.
Vineyard Trace is a 238-unit Class B apartment community in a Class B neighborhood of Houston, Texas. The property is located in the Champions East submarket in Houston. The property offers a great value-add opportunity by implementing interior upgrades.