Park at River Oaks — Sale in Houston, TX

  • Price: $175
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Houston, TX 77098
  • Year built: 1998

Photos

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Description

Jones Lang LaSalle (“JLL”) has been exclusively retained to present qualified investors with an exceptional opportunity to acquire a fee-simple interest in Park at River Oaks (the “Property”), a 299-unit apartment community situated on approximately seven acres at the nexus of River Oaks, Upper Kirby, and Greenway Plaza, three of Houston’s most affluent and supply-constrained submarkets. Positioned directly across the street from The RO, Houston’s most exciting mixed-use development, the Property offers residents a level of walkability and immediate access to retail, dining, and lifestyle amenities that is exceedingly rare within the inner loop. Buffalo Speedway delivers superior connectivity to Houston’s premier employment hubs, including Greenway Plaza, the Galleria/Uptown, the Texas Medical Center, and the Central Business District, while the surrounding neighborhood fabric of irreplaceable single-family estates and established retail corridors insulates the Property from meaningful new supply. New supply within the immediate trade area is limited, and what is planned does not compete with the Property on format or price point. The Property presents a compelling value-creation opportunity with substantial runway remaining, as approximately 12% of the unit mix has been renovated by current ownership to date and is achieving premiums of roughly $175-$250 per month over classic units. A new owner can execute the balance of the program on an accretive basis while benefiting from in-place operational stability. At a significant discount to replacement cost and situated on a high-basis land position in one of Houston’s premier residential corridors, the Property additionally offers long-term covered land play optionality, allowing investors to capture reliable current income today while preserving redevelopment flexibility over the hold period.

Market Context

This multifamily in Houston, TX is listed for sale at $175. The building dates to 1998. 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.

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

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