Houston, Texas – RPM Living has announced the acquisition of West Dallas’ Ashton, located in Houston’s Montrose submarket in the heart of the city. The acquisition is his 17th acquisition of RPM in the Houston metropolitan area, and Rap Style Community is his second Houston asset to be added to the RPM Multi-Family Fund I portfolio.
Within walking distance to Houston’s expansive Buffalo Bayou hiking and biking trail, the Ashton on West Dallas is conveniently located with immediate access to the city’s central business district and multiple city parks. Surrounded by some of Houston’s most vibrant entertainment districts and attractions, the community is near a variety of neighborhood bars and retail stores that make up the Montrose, Midtown, and Washington Avenue neighborhoods.
Built in 2013, Ashton in West Dallas features 246 units with 10-foot ceilings throughout, hallways with elevators, and a separate 24-hour fitness studio. Modern one- and two-bedroom homes feature floor-to-ceiling windows, wood floors, and stone countertops.
“Ashton, West Dallas, expects Class A absorption to remain strong given the region’s limited construction pipeline and rising homeownership costs and Houston’s consistent population growth. Given that, it presents a great opportunity with the potential for significant rental increases,” says Hank Farrell. , CEO of RP Living Investments.
sauce: RPM Living