Stonewood — Sale in Houston, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Houston, TX 77008
  • Size: 785 SF
  • Year built: 2002

Photos

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Description

Jones Lang LaSalle ("JLL") has been exclusively retained to present qualified investors with the opportunity to acquire a fee-simple interest in Stonewood (the "Property"), a 252-unit, three-story garden-style apartment community situated on 11.16 acres at 701 T C Jester Boulevard, positioned between The Heights and Memorial Park within Houston's inner loop. The Property is being offered on an all-cash basis. Stonewood occupies a differentiated position inside the Loop, pairing proximity to The Heights, the Washington Corridor, and Memorial Park with the low-density scale and surface parking that newer urban product cannot replicate. Situated immediately north of Interstate 10, the Property offers seamless connectivity to Downtown, Uptown/Galleria, the Texas Medical Center, and the Energy Corridor, each within a sixteen-minute drive, while the Heights Hike and Bike Trail and Cottage Grove Park sit within a half mile. The opportunity is defined by a proven, partially executed value-add program. Current ownership has renovated 137 of 252 units, achieving strong premiums on upgraded product, leaving 115 classic units as immediate runway for a new sponsor. Offered at a significant discount to replacement cost, the Property offers a durable basis advantage in one of Houston's most supply-constrained inner-loop submarkets.

Market Context

This multifamily in Houston, TX is listed for sale across 785 SF. The building dates to 2002. Compare it against other multifamily listings for sale in Houston, TX — view the full market.

As of Q1 2026, the Houston multifamily market showed an 11.5% vacancy rate, and average asking rents near $1384.50/unit/mo. Source: multiple brokerage reports, Q1 2026.

Multifamily market FAQ

Is the Houston multifamily market tightening or softening?
Vacancy is around 11.5% (Q1 2026).

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