Class: B
Year: 1984
Style: Garden-Style
Acquired Date: December 2021
Address: 5915 Flintlock Road, Houston, Texas 77040
Property URL: flintat290.com
Investment Summary
Flint at 290, formerly known as Savoy, is a Class B garden-style apartment community located in the resilient Spring Branch area of Northwest Houston. Built in 1984, the property features 192 units with a mix of one- and two-bedroom floor plans. Its location off the newly improved SH-290 thoroughfare provides convenient access to a thriving job market and the Cypress-Fairbanks ISD.
With stabilized occupancy averaging 95%, new roofs and siding as of 2014, and light value-add potential, Flint at 290 offers significant opportunities to enhance market value through strategic upgrades and operational efficiencies.
Amenities
- Walk-in closets
- Fully equipped kitchens
- 50% washer/dryers connections
- 9-Foot ceilings
- Fireplaces*
- Sunrooms*
- Separate dining area*
- Private patios/balconies* In Select Units
- Swimming pool
- Dog park
- Playground
- 24-Hour fitness center
- Controlled access ages
- Mail center
- Rentable storage units
- 2 laundry facilities
Business Plan
The strategy for Flint at 290 focuses on:
- Renovating unit interiors to achieve rental premiums
- Adding new income streams through RUBs, pet fees, reserved parking, valet trash, and smart home packages
- Enhancing amenities such as a poolside pergola, dog park, and package locker system
- Implementing vertically integrated management to control expenses
- Targeting a 3-5 year hold period with plans to sell or refinance for maximum returns
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