Shareholder Update - Houston 5th Ward Project

8 October 2020

Greetings Blockvestors,
The fund officially closed Mid-July, and all shareholders should have received their share certificates from the Morgan-Stanley Shareworks platform.
Lots of work has been completed, as you see from the before and after pictures. The residential houses have been upgraded. The parking lot has been repaved on the entire site, giving it a fresh new look.
The commercial buildings are now the focus. The short-term rental office building will be complete by the end of October and available for bookings immediately. In fact, we have three bookings on the waiting list already!
The second building, the planned coffee shop, will be online by the end of the year. We have focused on the sure bets until we see when the city opens back up fully from COVID. There are a few alternative uses that we are working on, like the art gallery museum space as well.
Speaking of this, our street Lyons Ave was just approved by the State of Texas and the first black cultural arts district! This means we are now in a high demand corridor.
Be on the lookout for Zoom Call info in the next week! I look forward to speaking with all of you!

Immediate Upgrade

28 April 2020

Spent 3 weeks with an entire team of contractors and landscapers upgrading the look of the property. We also tackled a lot of maintenance issues that could have caused problems later.

The tenants are very happy. The neighbors are very happy.

Despite the COVID crisis the majority of tenants have paid their rents. We have two that will vacate after the stay at home orders are lifted, but I don’t see any challenges with quickly getting new tenants in those two houses.

We Closed! Congrats to US!

11 March 2020

In case you missed the post on my social media, we closed last Monday. I'm now in the process of setting up the tenant databases, understanding the current rent collection process, and deciding which elements to keep and which parts to modify. We will be adding digital accounting records via a property management program, then hiring a property manager and CPA to keep everything in compliance. I will also be making some decisions on how to spruce up the property and adding a little more security (cameras & fencing).
We are still allowing people to join the investment pool, so be sure to share it with friends and family!

Invest in 18 rentals with long term tenants (mostly seniors), a restaurant, an empty space that will be a coffee shop, and a new construction office space in Historic 5th Ward of Houston.

Chris Senegal - President of 3204 Lyons Avenue LLC
3115 Farmers St, Houston, TX, 77020

Funded: $1,070,000.00
Minimum Goal: $107,000.00
Maximum Goal: $535,000.00

201%
  • Closed
  • 1649 Investors


Choose Your Shares Below

Investment $1,500.00 Thirty shares of 3204 Lyons Ave LLC 50 claimed so far out of 50 Estimated Delivery: August 2020

Offering Documents

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Investment $2,500.00 Fifty shares of 3204 Lyons Ave LLC 51 claimed so far out of 50 Estimated Delivery: August 2020

Offering Documents

Sold Out
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You may cancel an investment commitment for any reason until 48 hours prior to the deadline identified in the offering by logging in to your account with Buy the Block, browsing to the Investments screen, and clicking to cancel your investment commitment. If an investor does not cancel an investment commitment before the 48- hour period prior to the offering deadline, the funds will be released to the issuer upon closing of the offering and the investor will receive securities in exchange for his or her investment.

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