*** ********* ***, ********, TX
9.96% return
SP:
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Property Description

Turnkey Apartments!! RARE OPPORTUNITY! 

37 units in 4 buildings. Fully occupied. No repairs needed! Rents can be increased. On-site maintenance man. Area is booming, 40%+ population increase in the last 20 years. Located near one of the top universities in Texas, only an hour and a half away from Houston and Austin. Newer roofs. Units have been remodeled. All tenants are employed and current on their rent. 

Do not miss out on this opportunity!

Property Information

  • Listing statusPending
  • Property typeMulti Family
  • Total units37
  • Total bedrooms38
  • Total bathrooms37
  • Building size15623 sq. ft.
  • Lot size0.9 acres
  • Year built1980
  • County******** County
  • Subdivision********** *********
  • ConstructionFrame
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C

Property Financial Summary

  • Sale price $1,250,000
  • Estimated rehab 1 $0
  • Total investment $1,250,000
  • Type Proforma
  • Gross income (annually) $216,000
  • Operating expenses (annually) $91,478
  • Net income (annually) $124,522
  • Gross return 17.28%
  • Gross income (monthly) $18,000
  • Operating expenses (monthly) $7,623
  • Net income (monthly) $10,377
  • Net return 9.96%

Property Income & Expenses

  • Income
  • Building 1
  • Unit 1: 1 bed / 1 bath $500/month $6,000/year
  • Unit 2: 1 bed / 1 bath $500/month $6,000/year
  • Unit 3: 1 bed / 1 bath $500/month $6,000/year
  • Unit 4: 1 bed / 1 bath $500/month $6,000/year
  • Unit 5: 1 bed / 1 bath $500/month $6,000/year
  • Unit 6: 1 bed / 1 bath $500/month $6,000/year
  • Unit 7: 1 bed / 1 bath $500/month $6,000/year
  • Unit 8: 1 bed / 1 bath $500/month $6,000/year
  • Building 2
  • Unit 9: 1 bed / 1 bath $500/month $6,000/year
  • Unit 10: 1 bed / 1 bath $500/month $6,000/year
  • Unit 11: 1 bed / 1 bath $500/month $6,000/year
  • Unit 12: 1 bed / 1 bath $500/month $6,000/year
  • Unit 13: 1 bed / 1 bath $500/month $6,000/year
  • Unit 14: 1 bed / 1 bath $500/month $6,000/year
  • Unit 15: 1 bed / 1 bath $500/month $6,000/year
  • Unit 16: 1 bed / 1 bath $500/month $6,000/year
  • Building 3
  • Unit 17: 1 bed / 1 bath $500/month $6,000/year
  • Unit 18: 1 bed / 1 bath $500/month $6,000/year
  • Unit 19: 1 bed / 1 bath $500/month $6,000/year
  • Unit 20: 1 bed / 1 bath $500/month $6,000/year
  • Unit 21: 1 bed / 1 bath $500/month $6,000/year
  • Unit 22: 1 bed / 1 bath $500/month $6,000/year
  • Unit 23: 1 bed / 1 bath $500/month $6,000/year
  • Unit 24: 1 bed / 1 bath $500/month $6,000/year
  • Building 4
  • Unit 33: 2 bed / 1 bath $0/month $0/year
  • Unit 34: 1 bed / 1 bath $500/month $6,000/year
  • Unit 35: 1 bed / 1 bath $500/month $6,000/year
  • Unit 36: 1 bed / 1 bath $500/month $6,000/year
  • Unit 37: 1 bed / 1 bath $500/month $6,000/year
  • Building 5
  • Unit 25: 1 bed / 1 bath $500/month $6,000/year
  • Unit 26: 1 bed / 1 bath $500/month $6,000/year
  • Unit 27: 1 bed / 1 bath $500/month $6,000/year
  • Unit 28: 1 bed / 1 bath $500/month $6,000/year
  • Unit 29: 1 bed / 1 bath $500/month $6,000/year
  • Unit 30: 1 bed / 1 bath $500/month $6,000/year
  • Unit 31: 1 bed / 1 bath $500/month $6,000/year
  • Unit 32: 1 bed / 1 bath $500/month $6,000/year
  • Total $18,000/month $216,000/year
  • Expenses
  • Property Taxes $1,925/month $23,101/year
  • Insurance $981/month $11,777/year
  • Lawn care $60/month $720/year
  • Utilities $2,573/month $30,880/year
  • Maintenance reserve $2,083/month $25,000/year
  • Total $7,623/month $91,478/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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