Westmount Sells 362-Unit Houston Community
The Beverly Palms has received $1 million in improvements over the past six years, including a newly painted exterior, architectural enhancements and updated common areas.
Westmount Realty Capital has sold Beverly Palms, a Class B apartment community in Houston. The firm originally purchased the property in October 2012 from Hudson Capital Investments, for around $13.6 million, according to Yardi Matrix. Over the past six years, Beverly Palms has undergone $1 million in renovations.
Located at 6061 Beverlyhill St., the 1968-built asset offers 362 one-, two- and three-bedroom floorplans ranging from 594 to 1,281 square feet. Comprising 33 two-story buildings, the pet-friendly Beverly Palms underwent upgrades such as a newly painted exterior, architectural enhancements, updates to the common areas and the inclusion of new finishes and fixtures within the units. Interior features include pantries, walk-in closets, built-ins, washer/dryer hookups, vaulted ceilings and private balconies/patios. Residents have access to community amenities such as:
- state-of-the-art fitness center
- business center
- laundry center
- picnic and barbecue areas
- two resort-style swimming pools
- on-site convenience store
- covered parking
- 24-hour emergency maintenance
“Beverly Palms provided Westmount with a solid investment opportunity,” Clifford Booth, president & CEO of Westmount, told Multi-Housing News. “It is located in one of the strongest submarkets in Houston and we were able to keep occupancy rates above average, while providing upgrades and amenities maintain current residents and attract new residents.”
Image courtesy of Westmount Realty Capital