Overview
Transwestern’s Houston Multifamily Investment Sales Team is pleased to present Kennon Heights, an 18-unit, townhome-style community in Houston’s Northside neighborhood offering investors a newly constructed, fully stabilized, low-maintenance asset with strong in-place cash flow and immediate rental upside. Delivered in two phases in 2023 and 2025, the Property is strategically located along the METRORail Red Line with direct access to Downtown Houston and the Texas Medical Center. Kennon Heights features a differentiated, home-like design with private rooftop decks, fenced yards, and modern finishes that have driven rapid absorption and a stabilized rent roll. Adjacent to Moody Park, which is undergoing a multimillion-dollar revitalization, the property offers investors durable cash flow, transit-oriented fundamentals, and embedded upside from a rapidly improving urban corridor.
Investment Highlights
STRONG OPERATING PERFORMANCE WITH UPSIDE
The Property is over 94% occupied at an average rent of $1,947, with six units rolling within 90 days and leased below market, allowing for organic rent growth toward the $2,200 market rent without renovation or additional capital. The builder intentionally implemented a simple, fee-light operating model that produces durable in-place cash flow and provides immediate ancillary income upside for the next owner.
RESIDENTIAL-QUALITY DESIGN & CONSTRUCTION
Townhome-style residences with private outdoor space, split-level layouts, and modern finishes, built with durable, low-risk construction features that enhance privacy, comfort, and long-term ownership performance.
ACCELERATED DEPRECIATION BENEFIT
Projected $1.6–$2.0 million in year-one accelerated depreciation from cost segregation, materially enhancing after-tax returns.
CONVIENIENT ACCESS TO HOUSTON MSA
Kennon Heights sits directly on the METRORail Red Line, offering tenants a 12‑minute commute to Downtown and 18 minutes to the Texas Medical Center. Rail adjacency supports consistent demand, lower tenant transportation costs, and exceptional rent durability across economic cycles.
DIRECT BENEFIT FROM URBAN REVITALIZATION
The property is adjacent to Moody Park, which is currently undergoing a multimillion-dollar public and philanthropic transformation. This investment is reshaping the surrounding corridor and enhancing long-term livability, desirability, and pricing power for park-adjacent housing.
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