Open For Investment
The Waterview is a Class A+ garden style community located in the booming Richmond submarket. Similar to the 340 unit property we purchased early this year, we are buying at a discount directly from the builder.
The Katy/Richmond area has proven to be the growth corridor of Houston, driven by State Highway 99 which provides convenient access throughout Houston. This rapid growth has created strong tailwinds for the Katy market with Class A rents increasing by 16% over the trailing 12 months. Additionally, Katy has posted the largest absorption in the city of Houston with nearly 3,000 units of Class A absorption over the trailing12 months. As evidenced by AXIO projecting 9.9% rent growth for the area in 2022 and 5.3% in 2023. These impressive trends are projected to continue which will only add to this investments projected returns.
Pictures below as of early August. Will post pictures of the pool, clubhouse, sauna, gym, and other amenities when they are completed in September.