Houston sold: $5.7M buys 255-unit Oaks of Ashford Point

HOUSTON – The 255-unit Oaks of Ashford Point Apartments, located at 4040 Synott Rd., has been acquired by LAB Oaks L.P. for $5.7 million.

The property consists of 22, two-story and one, three-story residential buildings. Also, a single-story leasing office and clubhouse is included on the site.

Oriningally, the property was constructed in 1983 with 199 units; 56 units were added with a 1985 renovation.

Property amenities include:

• two swimming pools and a spa,
• a business center, and
• the buyer has proposed adding a fitness center.

Read more at the Wall Street Journal and the Oaks of Ashford Point.