Contacts

Jamie Harrington

GREA

Travis Clark

GREA

Abraham Garza III

GREA

Jordon Emmott

GREA

Shayan Hasnain

GREA

Property Details

Property Type Other
Property Size 54,016 SF
Units 59
Year Built 1965
Date Updated May 17, 2026

Portsmouth Portfolio includes two boutique multifamily communities located in Houston’s sought-after Montrose neighborhood, just minutes from Downtown, the Texas Medical Center, and Midtown. With easy access to Interstate 69 and Highway 59, the properties offer residents exceptional connectivity to major job centers and lifestyle amenities.

The portfolio features 59 total units across two adjacent properties, with spacious one- and two-bedroom floorplans ranging from 658 to 1,156 square feet. Interiors include granite countertops, tile flooring, crown molding, and select units with private balconies. 1903 Portsmouth offers all-bills-paid units and in-unit washers and dryers, while 1919 Portsmouth features a lush courtyard and on-site laundry.

Amenities include gated courtyards, swimming pools, surface and covered parking, and pet-friendly policies with no breed or weight restrictions. Both properties combine vintage charm with modern upgrades in a quiet, low-density setting.

Surrounded by high-income demographics and top-tier retail like Montrose Collective and Whole Foods, the properties benefit from strong tenant demand. With stable income and potential for interior upgrades or repositioning, 1903 & 1919 Portsmouth offer a compelling value-add investment in one of Houston’s premier live, work, play urban submarkets.

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Highlights

Assumable Debt with Immediate Yield: In-place financing can be assumed, potentially allowing a buyer to acquire the asset with less than 20% equity and achieve attractive day-one cash flow at todays basis.
Expense Savings: Opportunity to enhance NOI through improvement of utility conservation and reimbursements and targeted contract renegotiations, creating additional operational efficiency without significant capital investment.
Prime Montrose Location: Situated in the heart of Montrose, one of Houstons most supply-constrained and walkable neighborhoods, supported by a $106,000 average household income within a one-mile radius and proximity to Houstons top employment hubs.
Scaled Portfolio : The Portsmouth Portfolio combines two adjacent properties totaling 59 units, offering operational scale in a submarket typically dominated by smaller, scattered assets.
Straightforward Upside: Current rents sit meaningfully below renovated comparable properties, providing a clear path to drive revenue through interior upgrades and improved management.