The Legacy Apartments is a 70-unit apartment community constructed in 1965 and 1970. The property consists of two separate phases less than a mile from one another on Lockwood Dr. The Legacy Apartments in positioned 2 miles east of Highway 59, less than a mile south of Interstate 610, and 1.5 miles north of Interstate 10. Houston's Central Business District is within 4 miles with over 150,000 employees and 11 Houston Fortune 500 Company Headquarters. The Legacy apartments presents an opportunity to increase rental rates through an interior and exterior renovation program. Surrounding rental comparables are achieving $1.00 to $1.32 per SF in market rents, providing a new owner significant rental upside which are currently $0.96 per SF at the subject. The property is a recent foreclosure.
Price Upon Req.168,480 SF
OFFERS ARE DUE MONDAY THE 17TH OF NOVEMBER - Park Trails is a 2 and 3 story apartment community that was renovated in 2008 and is one of the nicer properties in its area. Behind the property is a nice business park and office buildings one of which houses the Federal Aviation Administration. It is within walking distance to Lupe Tortillas and other eateries in the immediate area. The property benefits from its close proximity to I H 45 and the businesses located in the I 45 corridor. The area is poised for growth and revitalization due to its location near Bush Intercontinental Airport, the new Grand Parkway which will go in just south of 2920 (will be the 3rd loop arouund the city of Houston) , the new ExxonMobil campus under construction at the Hardy Toll Rd., I H 45, and the 971 acre Hines Business Park under construction at I 45 and Beltway 8.
Price Upon Req.227,011 SF
The current owner completed a $1.8M rehab in 2013. Some of the major expenditures were; Interior Improvements consisting of Leasing Center upgrade, replacement of many appliances and AC's, interior paint and resurfaced counter tops, new faux-wood vinyl flooring in some units, carpet, replacement of some interior lighting fixtures as well as other interior improvements. Exterior Improvements, consisting of Full Paint including Metal, Wood Repair/Replacement, Parimeter Fencing, Landscaping Improvements, New Signage, and Parking and Walkway Repairs and Boiler Replacement. The property has a LURA in place for 158 of the units; of these 80% are 80% of AMI and 20% are 50% if AMI. The expiration date may be in 2020. The current rents appear to be below LURA maximums therefore, the LURA does not affect the properties cash flow. Ask the listing broker for details of the LURA.
Upscale 3 bedroom 3.5 bathroom three story home that has a great yard and each bedroom has an on suite bathroom. It is in a gated community in a great location by Washington Ave. and Heights Blvd with easy walking access to Porch Swing Pub, J Black's, Buffalo Wild Wings and others. Unique investment opportunity to get an income producing property with a CAP rate of 9% and benefit from extremely strong home value appreciation in the Washington Ave. area. It can be leased for approximately $1.45/ sqft (the home is 2530 sqft) for an annual income of $44,022. Or the owner can live in the home and lease out the other two bedrooms each for $1,300+ per month for an annual income of $31,200. I did this for the past year and a half, the rental income more than paid for the mortgage. Finding responsible tenants or roommates is easy because the Washington Ave area is in demand for many professionals in Houston. Washington Ave is experiencing strong price appreciation with many homes selling for over $210/sqft. This home price of $415,000 is at $164/sqft.
Excellent investment Opportunity for those in multifamily.
Fantastic Investment opportunity. Loads of new construction in the area. New town home are being built next door. Sale includes 2407 Bastrop (16650sp ft) and 2419 Bartrop (4372 sq ft) ,5 buildings 13186 sq ft = 21 units and storage buildings are on these lots as well. Rental rates start at $695/month, all tenants require background checks prior to move in. No felonies. Fully occupied. Parking assigned. Current gross income $14,200 / month. In the process of completion to renovate the buildings prior to closing (see attached list of renovations). There is a model unit that will be available for viewing by November 22. Please do not talk or disturb the tenants in the apartments. Current cap rate is 9.5% Rent could be increased to $850 / month making cap rate 12% Rent was placed lower than market value to get tenants in. See documents for income expense and survey. Please call the listing agent for more details.
Excellent fully leased three story property with established income of $4556/ month. First Floor is leased for NNN with 3% annual increase for 4 yr term and top 2 floors are also occupied. Upper two stories 4bedroom 3full baths, 2 half baths residential income with many upgrades. 3rd floor boasts very large continous room giving the amenities of Media room, Game room and a guest bed room with full bath. Shaft built out for elevator.
Price Upon Req.12,656 SF
" Existing Tenants Include Office, Retail & Residential " Income Producing " Off-Street Parking " Remodeled 2011 " 1st Floor Availability for Owner Occupied User
Price Upon Req.4,400 SF
Property located on Taylor Street just off I 10 close to downtown. 4400 Sq/Ft Warehouse type building that needs completion. 20,007 Sq/Ft lot allows for multiple use possibilities. Ideal location for Residential, Townhouses, Multi Family.
Reduced for quick sales, $10,000 toward buyer's closing cost if use Green Bank, Sharlene Hawkes, 713-301-1200 3008 & 3010(8u)+ 3012 & 3014(8) + 3016(4u)= 20 units are sold together. Three blocks from TSU, beautifully renovated ~1 mile away from Midtown, one of the hottest areas of Houston ~2 mils away from Montrose-Minutes from major schools, freeways, downtown, medical center, museums, Rice, Heights-Close to public transportation, bus and light rail-Views of downtown from property-All units are individually metered, 2 bedrooms, 1 bath. New water heaters in all units, New central air AC with permit