Westmount Realty Capital Announces Sale of Garden-Style Multifamily Property in Houston

Westmount Realty Capital announced the sale of Westmount at Summer Cove, a Class-B garden-style community located at 725 FM 1959 in Houston. Westmount has owned the property for seven years and has invested significantly in capital improvements over the past couple of years.

Westmount at Summer Cove was built in 1983 in two phases and features 376 units, ranging from one- and two-bedrooms and averaging 729 square feet. The community spans 274,112 square feet and features ample open parking, two swimming pools, a children’s playground, and a park-like area with abundant natural landscaping.

Formerly known as Summer Cove 1 and 2, Westmount repositioned and re-branded the project as ‘Westmount at Summer Cove’ and completed extensive property renovations including new exterior paint, new roofs, a remodeled clubhouse, a remodeled fitness center with new equipment and flooring and a remodeled leasing office with a coffee bar. Seventy-five units on the property have been upgraded with brushed nickel hardware, new lighting fixtures, resurfaced countertops and vinyl wood plank flooring.

The property is centrally located between Interstate 45 and Highway 3/Old Galveston Road and is 15 minutes away from downtown Houston. The property is also within a half-mile of Ellington Field, a joint-use airport and multiple regional employment centers like NASA, Webster, Port of Houston and Hobby Airport. These centers combined bring more than 125,000 jobs to the area.

Houston added over 118,000 jobs over the past 12 months and the city ranks on top in annual job growth. Companies like Chevron, Direct Energy, and Exxon have relocated employees to Houston in the last couple of years. The Houston housing market has benefited from the relocations and increased demand.