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KET Enterprises Incorporated I 1770 St. James Pl, Suite 382 I Houston, TX 77056 I 713.355.4646 I www.ketent.com
Park at
Willowbrook
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
Units: 229Avg Size: 772Date Built: 1984Rentable SF per HCAD: 173,505Acreage: 8.00Occupancy 94%Class: B
► Available Assumption Or New Loan
► Built in 1984 and Renovated in 2012/2013
► $1,825,000+ in Renovation Spent by Owner► Rental Income Increased Sharply Post Renovation
►
► Great Drive-By
► Houston Apartment Market is one of the largest in the US
► Strong Rental Market
► There is an RTC Lura In Place on 51 Units that Minimally Impacts the Asset
FOR MORE INFORMATION PLEASE CONTACT:
INVESTMENT HIGHLIGHTS
A P A R T M E N T S F O R S A L E M A R K E T P R I C E
Located in the Inwood Area of Northwest Houston
7100 Smiling Wood, Houston, TX 77086
Park at Willowbrook
KET ENTERPRISES INCORPORATED
1770 St. James Place I Suite 382 I Houston, TX 77056 www.ketent.com
Broker License #0406902
THE MATERIAL IN THIS REAL ESTATE OFFERING IS FOR USE ONLY BY KET ENTERPRISES INCORPORATED. USE BY ANOTHER PERSON OR COMPANY IS UNLAWFUL.
apartment homes
TOM WILKINSON Broker/Vice President
twilk4@ketent.com 713-355-4646 ext 102
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
Asking Price New loan Est Mkt Rent (Feb-20)
Amortization (months) 3 Mo Avg
Debt Service Est Physical Occ (Mar-20)
Monthly I.O.
Interest Rate
Date Due
Water Meter RUBS Est Res for Repl/Unit/Yr
Prepayment
Pitched Transfer Fee
PRO-FORMA INCOMECurrent Street Rent with a 6% Increase $203,869 / Mo
Estimated Gross Scheduled Income $203,869 / Mo
Estimated Loss to Lease (1.5% of Total Street Rent) 1.50%
Estimated Vacancy (6% of Total Street Rent)Estimated Concessions and Other Rental Losses (4% of Total Street Rent) 4%
Estimated Utilities Income (electricity, water/sewer, trash & pest control)Estimated Other Income (including upgrade premium) $590 / Unit / Yr
Estimated Total Rental Income
ESTIMATED TOTAL PRO-FORMA INCOME $199,310 / Mo
3 Mo Avg Income Annualized
Fixed Expenses
Estimated
$2,085 per Unit $2,101 per Unit
GasWater & Sewer
Total Utilities $524 per Unit $524 per Unit
Other ExpensesGeneral & Admin & MarketingRepairs & MaintenanceLabor CostsContract ServicesManagement Fees 4.01% $403 per Unit 3.50% $366 per Unit
Total Other Expense $3,193 per Unit $2,708 per Unit
Total Operating Expense $5,801 per Unit $5,333 per Unit
Reserve for Replacement $300 per Unit $300 per Unit
Total Expense $6,101 per Unit $5,633 per Unit
Stabilized Net Operating Income
Asking Price
NOTES: ACTUALS: Income and Expenses calculated using owner's 2/20 trailing operating statement. PRO FORMA: Income is Pro Forma as Noted. Taxes were calculated using 2019 Tax Rate & Future Assessment. Insurance is estimated. Management Fees calculated as 3.5% of Gross Income, Other expenses are Estimated for the Pro Forma.
DISCLAIMER: The information contained herein has been obtained from sources that we deem reliable. We have no reason to doubt the accuracy of the information, but we have not verified it and make no guaranty, warranty or representation about it. It is your resonsibility to independently
confirm its accuracy and completeness. We have not determined whether the property complies with deed restrictions or any city licensing or ordinances including life safety compliance or if the property lies within a flood plain. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH
ITEM OF INCOME OR EXPENSE AND PERFORM OR HAVE PERFORMED ANY INSPECTIONS TO VERIFY POSSIBLE CONTAMINATION BY ASBESTOS, LEAD PAINT, MOLD OR ANY OTHER HAZARDOUS SUBSTANCES. The owner reserves the right to withdraw this listing or change the
price at anytime without notice during the marketing period.
1,397,240 1,290,004
907,236 1,101,715
MARKET MARKET
731,118 620,093
1,328,540 1,221,304
68,700 68,700
$89,696 $392 per Unit $45,800 $200 per Unit
$92,336 $83,710
$135,249 $591 per Unit $103,050 $450 per Unit
$318,833 $1,392 per Unit $318,833 $1,392 per Unit
120,032 120,032
Other Expenses Estimated Other Expenses
$95,004 $415 per Unit $68,700 $300 per Unit
Electricity $14,516 $63 per Unit $14,516 $63 per Unit
$11,266 $49 per Unit $11,266 $49 per UnitUtility Billing Fee
$93 per Unit$21,318 $21,318 $93 per Unit
$72,932 $318 per Unit $72,932 $318 per Unit
Total Fixed Expense 477,390 481,180
Utilities Utilities Estimated Utilities
Insurance $81,970 $358 per Unit $81,970 $358 per Unit
$395,421 $1,727 per Unit 2019 Tax Rate & 2019 Assessment $399,210 $1,743 per Unit 2019 Tax Rate & Future AssessmentProperty Taxes & Franchise Taxes2/20 trailing operating statement
$2,304,476
EXPENSE Feb '19 thru Jan '20 Expenses Estimated Future Expenses
Fixed Expenses Estimated Fixed Expenses
2,391,720
2,391,720
(97,857)
91,481 $399 / Unit / Yr
135,152
(36,696)
(146,786) 6%
MODIFIED ACTUALS PRO-FORMAINCOME
2,446,426
2,446,426
HVAC System HVAC-Indiv Est Future Taxes $399,210
Roof Style Est FutureTax Assessment $14,000,000
* per unit -; per ft -
1%+app+legal
Owner is propetesting the 2019 tax assessment.
Elec Meter Indiv 2019 Taxes $395,421
$300 2019 Assessment $13,867,115
Yes
Units per Acre 28.625 Property Tax Information
Date Built 1984 2019 Tax Rate/$100 $2.85150
4.00%
10 yr
94%
Land Area (Acres) 8.00 Est Ins per Unit per Yr
Net Rentable Area 176,885
$310
Physical Information Financial Information Proposed Loan Information Operating Information
Avg Unit Size 772 $192,040
Number of Units 229 MARKET $192,329
360
3/13/2020 ParkatWillowbrook
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086 Property Overview
Age: 1984 Mortgage Balance $9,500,390
Renovated: 2012/13 Lender Greystone Klein ISD $1.360000
Elec Meter: Indiv Amortization 360 Harris County $0.407130
A/C Type: HVAC P & I $50,776 Harris County Flood Control $0.027920
Water: RUBS Type CMBS Port of Houston Authority $0.010740
Wiring: Copper Assumable Yes Harris County Hospital District $0.165910
Roof: Pitched Monthly Escrow Yes Harris County Education Dept $0.005000
Paving: Concrete Origination Date January 5, 2015 Lone Star College System $0.107800
Materials: Brick/Hardi Plank Due Date January 6, 2025 Harris Co Emerg Srv Dist 20 & 1 $0.200000
# of Stories: 2 Interest Rate 4.49% Northwest Park MUD $0.428000
Buildings: 18 Prepayment Yes NW Management District Comm $0.139000
Parking: Open Transfer Fee 1%+app+legal 2019 Tax Rate/$100 $2.851500
Units/Acre: 28.63 2019 Assessment $13,867,115
Total $2,294,077
Mar 2019 $182,469 12 Mo Avg $191,173Apr 2019 $192,468May 2019 $192,084Jun 2019 $189,316 9 Mo Avg $191,895Jul 2019 $189,686Aug 2019 $190,186Sep 2019 $192,877 6 Mo Avg $192,978Oct 2019 $190,891Nov 2019 $197,982Dec 2019 $193,104 3 Mo Avg $192,040Jan 2020 $192,093Feb 2020 $190,922
TAXING AUTHORITY CURRENT MORTGAGEPROPERTY INFORMATION Harris County
COLLECTIONS
Account #: 1153920000010
PLEASE DO NOT VISIT THE SITE WITHOUT AN APPOINTMENT MADE THROUGH THE BROKER.
PROPERTY HIGHLIGHTS
$170,000
$175,000
$180,000
$185,000
$190,000
$195,000
$200,000
The Park at Willowbrook Apartments is a two story, garden-style, apartment community located in the Inwood/Hwy 249 submarket of NW Houston built in 1984 and renovated in 2012-13. Residents enjoy ample amenities which include: mini-blinds, well appointed kitchens, vaulted ceilings*, ceiling fans, laundry facilities, patios and balconies, walk-in closets, wood burning fireplaces* washer/dryer connections, a beautiful swimming pool, a gazebo and a clubhouse. Upgraded units have granite countertops and wood flooring. *In select units. The owners just got a water conservation proposal costing $80,575 with a reported 14.5 month payback on cost. Located off a quiet road and surrounded by open green space, Park at Willowbrook is a private, gated community offering a peaceful setting in highly desirable North Houston, Texas. Not far from Park at Willowbrook, there are shops, restaurants, and businesses that line Tomball Parkway. Also close by is Willowbrook Mall, Greenspoint Mall, and the Sam Houston Race Park. Conveniently located near Sam Houston Parkway, the Park at Willowbrook is just minutes from Downtown Houston and George Bush Intercontinental Airport. The Park at Willowbrook provides a variety of one- and two-bedroom floor plans. Every floor plan includes large closets, vaulted ceilings, and open living spaces. Apartments at the Park at Willowbrook also offer large patios and balconies with outdoor storage space. the large 1,039 square foot two-bedroom, two-bath unit includes a bathroom with dressing area and a huge walk-in closet. The second bedroom also has a walk-in closet and private access to a Jack-and-Jill style bath. The galley-style kitchen opens to the dining room and includes a pantry. A laundry closet includes washer/dryer connections. This floor plan includes a fireplace and a spacious balcony with storage closet. The one-bedroom, one-bath apartment offers 698 square feet of living space. It has a large bedroom with walk-in closet, an entryway with coat closet, a dining area located off the galley-style kitchen, a utility room with washer/dryer connections, and a large balcony with storage space located off the living room. Per owner, 130 units have been upgraded. There are 71 classic units, 64 level 1 units and 94 level 2 units. Level 1- 1bedroom - 13- $75 premium; Level 1 - 2 bedroom - 3 - $85 premium; Level 1.5 - 1x1 - $90 premium; Level 1.5 - 2 bedroom - $100 premium, Level 1 - 1x1 - 58 - $110 premium; Level 2 - 2 bedroom - 35 - $125 premium; Level 2 plus - 2x2 - 2 - $160 premium. Additional premiums- $25 for first floor on 115 units, $25 pool view premium on 13 units. Available either on assumption or with a new loan. Greater rents could be attained with a 100% upgrade. There is an RTC LURA in place which covers 51 units; 32 at Very Low Income and 19 at Low Income. See LURA Rent Limits on the Unit Mix page. Owner is in the process of protesting the 2019 property taxes and expects to settle at a value of $12,500,000.
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086 Capex Summary 2015 thru 2019
Capital Expenditures 2015 2016 2017 2018 2019 Total CommentsLender CAP - Dishwashers 1,466.27 - 1,674.32 808.75 1,925.90 5,875.24 Dishwasher replacement
Lender CAP - Ranges 1,648.02 615.94 809.71 431.92 1,501.43 5,007.02 Range replacement
Lender CAP - Refrigerators 1,340.14 631.64 3,812.57 2,961.49 1,802.78 10,548.62 Refrigerators replacement
Lender CAP - Boilers 2,016.86 1,261.29 - 2,157.77 - 5,435.92 Boiler Repairs
Lender CAP - Building - Interior - 4,456.50 - - - 4,456.50 Subfloor repair
Lender CAP - Cabinets & Countertops - - - 2,300.00 - 2,300.00 Replace kitchen countertop unit 1407 and 1203
Lender CAP - Carpet 44,397.86 41,424.45 34,086.68 14,533.52 23,723.32 158,165.83 Carpet Replacement
Lender CAP - Vinyl / Tile / Plank - - 460.00 3,177.68 10,161.49 13,799.17 Vinyl Replacement
Lender CAP - Equipment Office - - - - 3,949.56 3,949.56 Entry gate repairs
Lender CAP - HVAC 1,649.20 9,851.44 5,174.64 13,836.92 18,432.97 48,945.17 Condenser and Refrigerant Replacement
Lender CAP - Landscape - - 5,001.15 4,069.98 20,118.40 29,189.53 Pool-landscape restoration and enhancement, Tree Trimming
Lender CAP - Lights, Fixtures - - - - 4,792.61 4,792.61 Lighting repair
Lender CAP - Parking Lot / Sidewalks - - - - 5,500.00 5,500.00 Concrete and Sidewalk Repairs
Lender CAP - Plumbing 2,605.70 62.85 - 4,118.51 17,870.00 24,657.06 Replace and Repair plumbing lines
Lender CAP - Pool 3,375.00 - - - 10,375.00 13,750.00 Resurface Pool
Lender CAP - Roofs - - - 2,025.00 - 2,025.00 Roof Leak Repairs
Reno CAP - Balcony & Stairs - Repair/Replacement 5,000.00 - - - - 5,000.00 Balcony landing and rails/wood deck repairs
Reno CAP - Blinds/Drapes 2,416.14 2,561.63 - - - 4,977.77 exterior screen replacement, as needed
Reno CAP - Building Exterior 27,900.00 - - - - 27,900.00 Patio replacement proposal 26 patios
Reno CAP - Clubhouse Renovations 171,895.56 4,378.07 - - - 176,273.63 Expand office to covered deck area, close kitchen, add fitness
Reno CAP - Doors & Related Hardware 55,640.18 - - - - 55,640.18 Replace entry Doors, approx. 50%
Reno CAP - Flatwork 18,788.75 - - - - 18,788.75 Trip hazards, additional walkways/repairs as needed
Reno CAP - Fences, Pool Gates & related ironwork 16,810.46 - - - - 16,810.46 grade beam erosion/fill
Reno CAP - Gutter/Downspouts 4,736.25 - - - - 4,736.25 gutter tune up/chimney repairs
Reno CAP - HVAC - Condensing Units 14,302.37 - - - - 14,302.37 replace/repair as needed
Reno CAP - IU Interior Upgrades-general 440,832.22 330,367.81 8,233.53 - - 779,433.56
Combination of the following elements - Plank Flooring, Cabinets, Resurfaced &
Replaced Countertops, Appliances, Hardware, Light Fixtures, Blinds, Plumbing, Paint
Color Change and Accent Walls
Reno CAP - Keys & Locks - - 1,948.50 - - 1,948.50 Install mag lock on pedestrian gate
Reno CAP - Landscaping/Drainage/Upgrades 51,659.36 13,087.44 1,515.50 - - 66,262.30 Erosion, entry upgrades, tree trim, repair entry irrigation
Reno CAP - Laundry Renovation - 2,379.21 - - - 2,379.21 Paint 2 laundry rooms
Reno CAP - Miscellaneous 4,935.00 37,084.86 2,327.82 - - 44,347.68 Water damage repairs to unit 1001, Dumpster repairs, new mailboxes
Reno CAP - Models 15,578.55 - - - - 15,578.55 One model, two bedroom
Reno CAP - Painting Exterior 104,175.00 - - - - 104,175.00
Paint Leasing Office, carpentry as needed, new door Accent color, paint railings, meter
screens
Reno CAP - Paving Repairs (concrete, asphalt) 38,498.00 - - - - 38,498.00 repairs/striping
Reno CAP - Pool Work 33,778.76 8,244.49 - - - 42,023.25 Pool deck overlay, deck o seal, outdoor kitchen, pumps
Reno CAP - Roof Repairs 7,200.00 8,713.31 - - - 15,913.31 Roof Repairs
Reno CAP - Signage 20,928.90 2,540.34 - - - 23,469.24 New property signage
Reno CAP - Fitness Equipment 11,304.55 - - - - 11,304.55 New fitness equipment
Reno CAP - Fitness Center 1,158.28 - - - - 1,158.28 Fitness Center Paint
Reno CAP - Pool Furniture 16,564.69 - - - - 16,564.69 Pool Furniture
TOTALS 1,122,602.07 467,661.27 65,044.42 50,421.54 120,153.46 1,825,882.76
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
Park at Willowbrook
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086 Amenities
*In Select Units
Lifestyle/Amenities ♦ Private, gated community ♦ Situated on a wooded property ♦ Surrounded by open greenspace ♦ Sparkling swimming pool ♦ Clubhouse ♦ Gazebo ♦ Community activities ♦ Free Hi-tech business center ♦ Pet friendly ♦ Picnic area with state-of-the-art bar-b-que grills ♦ Full-Size washer/dryer connections ♦ Walk-In closets ♦ Wood burning fireplaces ♦ Kitchens with pantries ♦ Vaulted ceilings ♦ Granite countertops* ♦ Baseboards ♦ Additional storage on patios/balconies ♦ Mini-blinds ♦ Jack & Jill bathrooms ♦ Large open layouts ♦ Dressing area in bedrooms ♦ Entryway closets
Apartment Amenities
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086 Unit Mix
Type Description No. Units Sq Ft Total SqFtMarket RentTotal Rent +EWG Rent/SF
A-1 1 Bed/1 Bath 16 545 8,720 $717 $11,464 +EW $1.31A-2 1 Bed/1 Bath 25 603 15,075 $738 $18,445 +EW $1.22
A-2 FP 1 Bed/1 Bath 23 614 14,122 $724 $16,655 +EW $1.18A-3 1 Bed/1 Bath 20 698 13,960 $801 $16,020 +EW $1.15
A-3 FP 1 Bed/1 Bath 20 698 13,960 $788 $15,750 +EW $1.13A-4 1 Bed/1 Bath 36 720 25,920 $807 $29,035 +EW $1.12A-5 1 Bed/1 Bath 1 800 800 $1,110 $1,110 +EW $1.39B-1 2 Bed/1 Bath 12 825 9,900 $885 $10,615 +EW $1.07
B-1 FP 2 Bed/1 Bath 12 825 9,900 $888 $10,650 +EW $1.08B-2 2 Bed/2 Bath 48 998 47,904 $963 $46,235 +EW $0.97B-3 2 Bed/2 Bath 15 1,039 15,585 $1,020 $15,300 +EW $0.98
B-3 B 2 Bed/2 Bath 1 1,039 1,039 $1,050 $1,050 +EW $1.01
229 772 176,885 $840 $192,329 $1.09
Source: Owner's 3/12/20 Rent Roll
% 1 2 3 4 5 6 7 8 Effective Date
50% (VLI) $26,750 $30,550 $34,350 $38,150 $41,250 $44,300 $47,350 $50,400 4/24/2019
80% (LI) $42,750 $48,850 $54,950 $61,050 $65,950 $70,850 $75,750 $80,600 4/24/2019
0 1 2 3 4 5 Effective Date
Very Low Income $649 $744 $837 $992 $1,145 $1,209 4/24/2019
Low Income $881 $1,010 $1,137 $1,351 $1,556 $1,648 4/24/2019
Number of Bedrooms
Size of Household
RENT LIMITS
UNIT MIX
Total Units
Average Sq. Ft.
Total Sq. Feet
Average Rent/Unit
Total Rent
Average Rent/ SFTOTALS AND AVERAGES
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
545 sq. ft.
1 bedroom
1 bathroom
603 sq. ft.
1 bedroom
1 bathroom
545 sq. ft.
1 bedroom
1 bathroom
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
698 sq. ft.
1 bedroom
1 bathroom
720 sq. ft.
1 bedroom
1 bathroom
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
825 sq. ft.
2 bedroom
1 bathroom
998 sq. ft.
2 bedroom
2 bathroom
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
1,039 sq. ft.
2 bedroom
2 bathroom
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086 Rent Comparables
1
2
3
4
5
Totals/Averages Comps 1993 94% 228 923 $1,085 $1.18
+E = Resident Pays Electric +W = Resident Pays Water/Sewer +G = Resident Pays Gas
Park at Willowbrook
7100 Smiling Wood Lane
90% 39,148 886 $917 $1.035
Houston Market Averages 89% 638,603 882 $984 $1.116
964 $1,038
$1,104
+EW
+EW
+EWG
Sub Market Averages(Willowbrook)
1.213Tiburon
8989 West Rd.2007 92% 320 910N/A
N/A
2012/13 +EW
Champions Valley Townhomes
12035 Champions Valley Dr.2007
Property Name
Willowbrook Crossing
7150 Smiling Wood Lane
1984 94% 229 772 $840
Garden City
2611 Garden City Dr.
Avg SF
Reserve at Woodwind Lakes
14555 Philippine St.1999
$1.09
N/A 1.077
99% 36 1150 $1,350 1.174
94% 328
+EW
1.289
Rent Comparables - 2020 (ADS)
1972
Year
BuiltOcc #Units P/SF
1982
Avg Rent +EWG
+E
Year
Renovated
N/A
2017
95% 206 747
90% 252 844 $1,088
1.125$840
5
2
1
5 1 2 3 4
3
4 Park at Willowbrook
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086 Sales Comparables
1
2
3
4
5
Totals/Averages Comps $12,091,733 107,997 $83,800 $104.53 1984 141Park at Willowbrook
7100 Smiling Wood Lane
Candleridge Park
1601 Wooded Pine
Applewood Village TH
15455 Ella
Willow Run TH
11240 Perry Rd.
Steepleway Downs
11910 Thoroughbred
Green Tree Place
4211 Clay Hill Dr.
Property Name Date Sold Price
07/01/19 $7,266,666
Total Sq. Ft. Price/Unit Price/SF Built Units
08/20/19 $10,350,000 96,302 $80,859 $107.47 1985 128
95,074 $78,986 $76.43 1984 92
1984 48
12/18 $19,700,000 153,184 $87,946 $128.60 1983 224
06/01/19 $3,850,000 49,280 $80,208 $78.13
MARKET 176,885 $0 $0.00 1984
1985 212
229
7/17 $19,292,000 146,144 $91,000 $132.01
1
3
2
5
4
Park at Willowbrook
5 1 2 3 4
SALES COMPS AVAILABLE UPON REQUEST
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086 Area Industry
The Woodlands
Downtown
Greenspoint
Energy Corridor
249 Technology Corridor
290 Industrial Corridor
❶ ❷
❸ ❹ ❺ ❻
❼ ❽
❾
❶ ExxonMobil North American
Headquarters Currently developing a 3.5 million SF campus set
to bring 10,000 employees and 40,000 total jobs.
❷ Southwestern Energy Campus Currently developing a new campus for its 1,000
Houston employees.
❸ Kindred Hospital A transitional care hospital dedicated to
providing care to medically complex and
catastrophically ill patients.
❹ Houston Northwest Medical Center Medical staff of approximately 600 members
offering a wide range of inpatient, outpatient
and diagnostic imaging services.
❺ Hillwood Industrial Development Expected completion in 2015. 414,000 SF
Industrial complex with 120 docks.
❻ Farouk Systems Farouk Systems now has more than 2,000
employees and product distribution in over 100
countries worldwide.
❼ George Bush Intercontinental Airport Served 39.8M passengers in 2013. 28th busiest
airport in the world and 12th busiest in North
America (for passenger traffic).
❽ Rankin Road Industries Major employers such as Schlumberger;
Honeywell, Baker Hughes, Borden and several oil
and gas businesses are situated along Rankin
road.
❾ Greenspoint Business District More than 4,400 companies and 18 million SF of
office, retail and industrial space.
❿ Pinto Business Park 971 acre class "A" business park. Home to Sysco
Corporation's 585,000 SF distribution center.
AREA INDUSTRIAL DEVELOPMENT
❿
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086 Demographics
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086
2017 Estimated Population 16,570 52,040 119,4392022 Projected Population 18,192 57,035 130,9602010 Census Population 15,096 45,733 105,0422000 Census Population 10,462 35,329 83,844
Projected Annual Growth 2017 to 2022 2.0% 1.9% 1.9%Historical Annual Growth 2000 to 2017 3.4% 2.8% 2.5%
2017 Median Age 28.7 29.9 30.9
2017 Estimated Households 4,701 14,946 35,0762022 Projected Households 5,146 16,349 38,4172010 Census Households 4,146 12,736 30,0212000 Census Households 3,086 10,419 25,240
Projected Annual Growth 2017 to 2022 1.9% 1.9% 1.9%Historical Annual Growth 2000 to 2017 3.1% 2.6% 2.3%
2017 Estimated White 41.2% 40.0% 40.6%2017 Estimated Black or African American 25.4% 25.0% 25.0%2017 Estimated Asian or Pacific Islander 8.3% 10.3% 10.7%2017 Estimated American Indian or Native Alaskan 0.9% 0.9% 0.8%2017 Estimated Other Races 24.2% 23.8% 22.9%
2017 Estimated Hispanic 58.7% 55.8% 53.0%
2017 Estimated Average Household Income $48,262 $57,543 $62,2632017 Estimated Median Household Income $43,632 $50,176 $53,5532017 Estimated Per Capita Income $13,707 $16,537 $18,297
2017 Estimated Elementary (Grade Level 0 to 8) 26.1% 22.0% 18.2%2017 Estimated Some High School (Grade Level 9 to 11) 14.8% 15.0% 14.2%2017 Estimated High School Graduate 32.7% 29.9% 30.1%2017 Estimated Some College 15.0% 16.5% 18.1%2017 Estimated Associates Degree Only 2.7% 4.8% 5.3%2017 Estimated Bachelors Degree Only 6.2% 8.5% 9.8%2017 Estimated Graduate Degree 2.6% 3.3% 4.3%
2017 Estimated Total Businesses 432 1,215 2,3072017 Estimated Total Employees 9,076 21,816 38,7922017 Estimated Employee Population per Business 21.0 18.0 16.82017 Estimated Residential Population per Business 38.4 42.8 51.8
RA
CE
AN
D E
THN
ICIT
Y IN
CO
ME
Average Income Subject - 1 Mile Radius
EDU
CA
TIO
N(A
GE
25+)
BU
SIN
ESS
HO
USE
HO
LDS
Ethnicity - 1 Mile Radius
POPU
LATI
ON
SUMMARY PROFILE1 Mile Radius
2 Mile Radius
3 Mile Radius
2000-2010 Census, 2017 Estimates with 2022 Projections
Calculated using Weighted Block Centroid from Block Groups
41%
59%
Non-Hispanic
Hispanic
$48,262
$72,073
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
Subject Houston
17%
10%
5%
8%
59%
White
Black
Asian
Other
Hispanic
Park at Willowbrook ● 7100 Smiling Wood Lane ● Houston, TX 77086 Flood Plain Map
Park at Willowbrook PLEASE VERIFY
Assumption
or All cash
N/A
D I S C L A I M E R & N O N-E N D O R S E M E N T N O T I C E
FOR INFORMATION PLEASE CONTACT:
KET ENTERPRISES INCORPORATED
1770 St. James Place I Suite 382 I Houston, Tx 77056 www.ketent.com
Broker License #0406902
Disclaimer: The information contained in this Memorandum reflects material from sources deemed to be reliable, including data such as operating statements, rent rolls, etc. However, we (KET Enterprises Incorporated or any of the owners or officers, directors, employees, agents or representatives of any such entities) have not verified its accuracy and make no guarantee or representation about it. It is submitted subject to the possibility of errors, omissions, change of rental or other conditions. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. We make no representations or warranties, expressed or implied, as to the validity, accuracy or completeness of the information provided or to be provided, and nothing herein shall be deemed to constitute a representation, warranty or promise by any such parties as to the future performance of the Property or any other matters set forth herein. You and your tax and legal advisors should verify the information and rely on his accountants or attorneys for legal and tax advice. Rates of return vary daily. No representations are made concerning environmental issues, if any. Non-Endorsement Notice: KET Enterprises Incorporated is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by KET Enterprises Incorporated or any of the owners or officers, directors, employees, agents or representatives of any such entities, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY
TOM WILKINSON Broker/Vice President
twilk4@ketent.com 713-355-4646 ext 102
a p a r t m e n t h o m e s Park at Willowbrook
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