"Production Solves All Problems."
This is a concept that my uncle drilled into my head over and over again when I worked with him during college. And to be honest, I did not fully grasp the concept at the time. (It wasn't until I had a business of my own--my own "production"--that I finally "got it".
My units look the way they do mainly because I am an bizarrely productive person who also happens to think long term. I look at every repair as an opportunity to upgrade the property (or the unit) in order to add more value for the tenant--which ultimately adds more value to my bottom line. Why?
Because better units = more applicants to choose from + happier tenants = lower turnover = more rent = higher profits. I am not an altruist--I am an objectivist in the purest Ayn Randian sense of the word. And I am more than happy to do upgrades that are both good for me AND good for the tenant--because in the end, we both win.
In the Houston market for example, if you pull out the crappy old window units and put in central air conditioning, you will increase the average rent for your units by at least $100/month. (The new central air will cost you about $3500 per unit.) So, in 35 months you're at break even. After that, as the landlord, you're making an extra $100/month on that unit. Further, the average electric bill for that same unit will be 50% less with central air than a window unit--which is better for your tenants--and better for the environment. So WHY are there so many vintage apartments inside the loop that STILL have window units???
It's such a win/win scenario that I'm really surprised that more landlords don't "get it". More cash flow coming in at the beginning of every month ("production") = more cash flow left over at the end of the month for problem solving (and upgrades). Since 2001 I have spent over $1.25 MILLION dollars on upgrades & restoration projects at my various properties--without borrowing a single penny. I did it all from cash flow.
The units that appear below are the units that will be coming available over the next 30 to 60 days.
I keep my game pretty tight so normally I do not have many units just sitting empty (unless we happen to be working on a unit). People move out, people move in--so you always have a few days of vacancy here and there (in between tenants). Typically we have most units re-leased before the current tenant vacates, with just a day or two of vacancy in between to make sure that the unit is in tip top condition for the new tenant.
The availability date for each unit is indicated below--along with a contact email for that property. Sometimes the current tenants can move out sooner than the availability date indicated... sometimes not. So if you need to move sooner than the date indicated by the available unit, just let us know the move-in date you need when you email us and we'll check with the out-going tenant to see if they have any wiggle room.
If your ideal or projected move-in date is beyond the availability date below, I'm obviously not going to "hold" this apartment for you without rent. Something else may come up that is available closer to your move-in date, however. So feel free to contact me or--Like / Follow us on Facebook to get instant updates f our availability.
Click the "View Unit Details" link by any property below that you are interested in... then send an email to the address indicated for that property if you would like specifics about upcoming showing dates and times.
(You may also want to check out the Home page for a little background on Medusa Properties and how we roll.)
IF THERE IS NOTHING BELOW THIS SENTENCE THEN WE ARE 100% FULL AT THIS TIME. PLEASE CHECK BACK LATER. :)
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|Classic 1920s Montrose 4-Plex (Houston, TX)
Classic red brick 4plex in the ever popular Montrose area of Houston. Circa 1920s.
Built like a Sherman tank but with looks like Marlene Dietrich.
Easy walking distance to Whole Foods (@ W Dallas & Waugh) and a host of other great shops, restaurants, pubs, art galleries, etc.
Tall ceilings, original hardwood floors, original Art Deco hex-tile in the bathrooms, original cast iron sinks and cast iron tubs... this property has all the details that make these old buildings classics.
Additionally, every unit has been fully outfitted to modern standards underneath the skin of the building--with central air and heat, full-size appliances, new water heaters, etc.
There is also ample off-street, gated, covered parking--a MUST inside the loop.
This is a clean, quiet, peaceful building with great vintage architecture & detailing; the antithesis of "big box" apartment living. If you are looking for a home inside the loop and you love pure vintage but don't want to make the sacrifices that it often entails--this might be the perfect place for you.
I'm pet friendly in general but in these units I prefer no dogs upstairs (units #3 & #4). That's not iron clad but in the 14 yrs I've owned this building, I think I've had maybe one or two tenants with dogs in those upstairs units. So, never hurts to ask but don't be mad if I say no. :) Most dogs not a problem in the downstairs units (#1 & #2).
See pics below for more visuals. Click on any thumbnail to enlarge.
M&M Lighting: fixtures
Thorntree: stone flooring & backsplash materials
Yellowstone Marble & Granite: stone countertops
The Detering Company: trim, moulding, doors
Custom Precision Stainless: custom sinks, misc. stainless detailing
Montalbano Lumber: misc. building materials
Trinity & Klassic Hardwood Floors: new & recycled hardwood flooring
DalTile & Emser Tile: ceramic & stone
Custom Cabinets Houston: vintage cabinetry, custom closets & built-ins
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W. Gray St
Houston, TX 77019
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|Mid-Century Modern in Galleria / Highland Village (Houston, TX)
Bored with doing the same "Turn-of-the-Century" restoration projects for the previous five years, in 2002 I decided to mix things up bit with a little Mid-Century Modern.
This classic 1950s 8-plex is one of only a few remaining, original, small complexes built in Afton Oaks in the 1950s (before the Galleria was even a twinkle in Gerald Hines' visionary eye. (http://www.aftonoaks.org/)
Because of its excellent in-town location, unusually large lots, and strictly enforced deed restrictions, the prevailing model in Afton Oaks is to tear down the existing 1950s "ranch-style" houses (@ $500K a pop) and replace them with faux French McMansions and falso Italianate Villas (@ $2 million + a pop). Most of the original, smaller, vintage 4plex, 6plex, and 8plexes like this one have been laid low by that same paradigm shift in recent years.
As tempting as that might be to me financially, I kinda liked Afton Oaks the way it was--quaint and unpretentious--so I decided to recycle this classic building instead of sacrificing it to the gods of consumption.
This project was fun mainly because we got to work and re-work the same basic floor-plan eight times. This allowed me to tweak the scope & look of each unit, improving the functionality and aesthetics of each as we moved through the building. (My own mini Case Study project.) My goal was to end up with eight unique units--and I think I achieved that goal. No two units in the building are exactly alike. Some lean more toward the Vintage and some more toward the Modern--but they are all Vintage Modern.
Aside from the common floor plan of two bedrooms and one bath--and some shared color schemes--every unit has its own personality. Sometimes the differences are subtle. Sometimes they are drastic. But each has its own individual character.
The tenants are generally an eclectic mix of young professionals (25-45). Probably owing to the central courtyard, this property has more of a community feel to it than any other property that I have owned--which I like--and which is why certain types of people prefer a small complex like this over 200, 300, 400 unit complex.
If you work or play inside the loop, this location is hard to beat. "Galleria" is an oft abused reference point in Houston real estate--especially in apartment listings. This property is literally three blocks due east of the Galleria shopping centers--tucked just inside the 610 loop. You could walk out your front door & be trying on shoes at Neimans in about five minutes. There is also a Central Market, Best Buy, Target, Spec's (my favorite!), and three Starbucks within easy walking distance. (damn those $5 iced chai lattes w/double shots of espresso!)
There is also great freeway access to 59, 610, and I-10. And the shopping is the best in the state. (Where else in Houston can you live close enough to walk to Crate & Barrel, Central Market, Pottery Barn, Restoration Hardware, Nordstrom, and Anthropologie?) http://www.shophighlandvillage.com/center.html
For what they are (700 to 800 s.f., Mid-Century, two bed / one bath flats) these are about the nicest units in this price range that you are going to find anywhere near this location--possibly anywhere inside the loop. They are what they are. If you are looking for shiny new pennies, you'll have to live in a 400 unit property and park in a parking garage. This is eight units. Killer location. Two bedrooms. (Most of the tenants there use them as 1+ study / guest bed set ups.)
See unit details below for pics & info on each individual unit. Click any thumbnail to enlarge.
Thorntree (quartz & slate), DalTile, ICI Paints, K&N (appliance), the Detering Company (trim & moulding), Custom Precision Stainless (custom kitchen sinks & other stainless details), Ferguson (misc. plumbing fixtures), Trinity Hardwoods, Klassic Hardwoods (recycled flooring), Custom Cabinets Houston (www.custom-cabinets-houston.com), M&M Lighting, Bobbitt Glass, Emmanuel del Angel (sheetrock, paint, tile), Morales HVAC, St Charles Electric.
For more info about renting one of these units (policies, procedures, showing dates & times, etc.) send and email to email@example.com
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HOUSTON, TX 77027