We just picked up a super cute 10 unit in Montrose at 4202 Stanford. This property is just a few steps from our other property at 710 Colquitt. This property is all 1 bedroom units. And at the time I’m typing this, we have 1 empty. So if you want it, let us know!
In interesting story in the Houston Chronicle. Discusses how well the multifamily sector is doing. This should be great news for Fat Property, right? Not really. We’re more buyers than sellers. So when the prices of properties go up, that normally just means our property tax bill goes up, and it’s harder for us to find new properties to buy.
So while we’re happy to see our sector doing so well, I think a small pullback might be healthy for the long term success of this business.
From time to time we’d like to start sharing some of the feedback we get on various social media. This one comes from Danny who lives in one of our Midtown properties:
THANK YOU FAT PROPERTY!!! A few years ago I had a girlfriend that lived in this building. It’s so awesome. Her unit was older but had a quirky charm. She always said they’d have to drag her out of there if a new owner ever bought it and wanted to knock it down.
Ironically I live in one of the “Fat Property” complexes in midtown. It’s also super old (built in the 30s?) building and they’ve done a great job on the units. Ive been here since a few months after they bought it and they not only improved the building considerably but allowed the whole neighborhood to finally get fixed up.
We are thrilled to have Peacock Plaza as part of the family. This 32 unit historic property is located at 1414 Austin St downtown, right by the Toyota Center. It was built 90 years ago. In fact, I’m told the people who had it briefly before us purchased it from a lady who had the property for 80 years!
The property is made up of two 16-unit buildings, connected by a cute little courtyard. We have some big improvements planned that’ll keep the vintage charm while upgrading the units to modern standards.
Our short term plan is to leave the units in 1 of the two buildings relatively untouched (with the exception of modernizing the HVAC unit with highly efficient ductless mini splits). This will allow us to keep them affordable for the area. The units in the other buiding are getting head to toe upgrades — all new kitchen cabinets, appliances, flooring, bath, etc. Too much to type here but we’ll put them up against any new (soulless) class A construction any day.
Enjoy a few pictures (window unit shown, but those are all being replaced). If you’d like to lease one, give us a call @ 832-640-4444 or shoot us an email
To make it easier for our residents to pay rent, we’ve partnered with PayNearMe. This will allow our tenants to pay your rent in cash at any of several stores that work with PayNearMe (Primarily supporting ACE Cash Express and CVS locations – though there is a map of locations that is constantly being updated). Of course, we’ll still offer the option to pay online at our site via electronic check (preferred method) or credit card as well.
This week, our residents should receive an email or text from PayNearMe with instructions on how to make a cash rent payment at their nearest available location. If you’re a resident who would like to use this service, and have not gotten a text or email with instructions, please contact your property manager or email email@example.com