Westmount at Summer Cove is a 376-unit apartment complex constructed in 1983. The well-maintained community has been held by the same ownership for 14 years and has strong historical operating performance. The Property has been above 90% occupancy for well over a decade and averaged 96% for the last 12 months. Rents have increased 6.7% over the same time frame with absolutely no concessions. The Property is well-positioned , centrally located between Interstate 45 and Highway 3.
The community is in excellent condition with little to no deferred maintenance. Current ownership has completed nearly $1 million in capital improvements in the past year including new exterior paint, new roofs and a remodeled clubhouse and fitness center.