Houston, TX - 23.9M

- Renovated units achieve up to $116 premiums

- Renewals YTD have averaged 5.3% increases on new leases

- $355 rent gap with Class A properties in submarket and $246 rent gap with Class B properties (MRI Apartment Data)

- Add washer and dryer connections and machines

- No units in lease-up or under construction within three miles

- 3.3% average annual rent growth projected from 2026 to 2028 (RealPage)

- Can update 40% of units with classic finishes, including white appliances

- Can add granite countertops and stainless steel appliances to 100% of units

- Can add washers and dryers to units without them

- Can add reserved parking or carports

- Can capture reduced expenses from a recently implemented water conservation

- Can implement bulk cable/internet contract