Turnkey Apartments
*** ********* ***, ********, TX
11.75% return
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Property Description

HOTT Property!! 33 apartments and an office. Located close to a major city. Growing area. Units have been renovated recently. Newer Central heat and air units. On-site maintenance. Professional property management is available. Potential to build more apartments next doors. Can be converted into a higher class complex. Do not miss out on this one. Steal this property before it hits the market!!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units33
  • Total bedrooms48
  • Total bathrooms33
  • Building size18931 sq. ft.
  • Lot size3.2 acres
  • Year built1960
  • County******** County
  • Subdivision********** *********
  • ConstructionBrick/Frame
  • Roof
  • Water sourceCity
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral

Property Financial Summary

  • Asking price $1,100,000
  • Estimated rehab 1 $0
  • Total investment $1,100,000
  • Type Proforma
  • Gross income (annually) $196,200
  • Operating expenses (annually) $66,900
  • Net income (annually) $129,300
  • Gross return 17.84%
  • Gross income (monthly) $16,350
  • Operating expenses (monthly) $5,575
  • Net income (monthly) $10,775
  • Net return 11.75%

Property Income & Expenses

  • Income
  • Unit 1: 2 bed / 1 bath $550/month $6,600/year
  • Unit 2: 2 bed / 1 bath $550/month $6,600/year
  • Unit 3: 2 bed / 1 bath $550/month $6,600/year
  • Unit 4: 2 bed / 1 bath $550/month $6,600/year
  • Unit 5: 2 bed / 1 bath $550/month $6,600/year
  • Unit 6: 2 bed / 1 bath $550/month $6,600/year
  • Unit 7: 2 bed / 1 bath $550/month $6,600/year
  • Unit 8: 2 bed / 1 bath $550/month $6,600/year
  • Unit 9: 2 bed / 1 bath $550/month $6,600/year
  • Unit 10: 3 bed / 1 bath $650/month $7,800/year
  • Unit 11: 3 bed / 1 bath $650/month $7,800/year
  • Unit 12: 3 bed / 1 bath $650/month $7,800/year
  • Unit 13: 1 bed / 1 bath $450/month $5,400/year
  • Unit 14: 1 bed / 1 bath $450/month $5,400/year
  • Unit 15: 1 bed / 1 bath $450/month $5,400/year
  • Unit 16: 1 bed / 1 bath $450/month $5,400/year
  • Unit 17: 1 bed / 1 bath $450/month $5,400/year
  • Unit 18: 1 bed / 1 bath $450/month $5,400/year
  • Unit 19: 1 bed / 1 bath $450/month $5,400/year
  • Unit 20: 1 bed / 1 bath $450/month $5,400/year
  • Unit 21: 1 bed / 1 bath $450/month $5,400/year
  • Unit 22: 1 bed / 1 bath $450/month $5,400/year
  • Unit 23: 1 bed / 1 bath $450/month $5,400/year
  • Unit 24: 1 bed / 1 bath $450/month $5,400/year
  • Unit 25: 1 bed / 1 bath $450/month $5,400/year
  • Unit 26: 1 bed / 1 bath $450/month $5,400/year
  • Unit 27: 1 bed / 1 bath $450/month $5,400/year
  • Unit 28: 1 bed / 1 bath $450/month $5,400/year
  • Unit 29: 1 bed / 1 bath $450/month $5,400/year
  • Unit 30: 1 bed / 1 bath $450/month $5,400/year
  • Unit 31: 1 bed / 1 bath $450/month $5,400/year
  • Unit 32: 1 bed / 1 bath $450/month $5,400/year
  • Unit 33: 1 bed / 1 bath $450/month $5,400/year
  • Total $16,350/month $196,200/year
  • Expenses
  • Property Taxes $842/month $10,100/year
  • Insurance $1,100/month $13,200/year
  • Lawn care $167/month $2,000/year
  • Maintenance reserve $1,667/month $20,000/year
  • Water, Sewer and Waste $1,200/month $14,400/year
  • Gas Utility Bill $600/month $7,200/year
  • Total $5,575/month $66,900/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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