Solano, a 262-unit, class B- multifamily property built in 1966 and located in Webster, Texas in Houston’s Clear Lake submarket.

Acquisition Date
Jul 15, 2021
Unit Count


Solano is conveniently located in the heart of Webster, TX, right next to the town’s McWhirter-Webster Primary School and Clear View High School, across the street from Houston Physicians’ Hospital, and 3 minutes from the HCA Houston Clear Lake complex. NASA’s Johnson Space Center is 6 minutes away.


This is a true off-market acquisition from a first-time seller, delivering an attractive basis ($97k/unit) below recent sales comps ($100–110s/unit).

The previous owner, a local operator, has maintained the property to a high standard, but only renovated half of the units.

Business Plan

Half of the units have been renovated for ~$100 premiums. Lone Star is completing unit renovations on the other half the units for rent increases matching existing premiums and implement amenity and operational improvements to build resident appeal.

Said improvements include luxury plank flooring in pale neutrals, hard countertops + tile backsplashes, upgraded fixtures, and washer-dryer in units for 2 bedroom units with connections. In addition, amenities will be upgraded to deliver value across all unit types. Lone Star will be adding a luxury outdoor kitchen with picnic table, fitness center, dog park, business facilities, and package lockers.

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