12302 Boreas Dr, Houston, TX 77039
10 Unit Apartment Building | $950,000 ($95,000/Unit) | Houston, TX 77039
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $950,000
- Property Type
-
Multifamily
- Square Feet
- 5,280 SF
Listing Contacts
Kamil Patel
Verified Profile
- Property Info
Property Overview
90% occupied, 10 units, value add deal with under market rents & opportunity to optimize utility expenses. Located in Aldine with access to strong renter base seeking rental housing. Quick access to I-69, I-45, Beltway 8, Hardy Toll Road and Downtown Houston. Located directly next to schools & blue collar employment hub.
Boreas Apartments, located in North Houston's bustling Aldine area at 12302 Boreas Dr., offer an outstanding investment opportunity. Featuring 10 spacious units (all 2 Bed & 1 Bath), this property's prime location near schools and major highways like I-69 and I-45 makes it highly desirable for families seeking housing solution with convenience and accessibility. With the median home price in the area skyrocketing to $192,702—a remarkable 10% year-over-year increase—Boreas Apartments emerge as a top-notch value-add prospect. Notably, rents at this property are currently under market value, presenting investors with a unique opportunity
for immediate upside potential. By strategically renovating both the interior and exterior of the property and implementing RUBS to optimize utility expenses, investors can unlock the full potential of this property, maximizing cash flow and long-term returns. Don't miss out on the chance to capitalize on the area's robust rent growth and secure your investment in Boreas Apartments today!
Boreas Apartments, located in North Houston's bustling Aldine area at 12302 Boreas Dr., offer an outstanding investment opportunity. Featuring 10 spacious units (all 2 Bed & 1 Bath), this property's prime location near schools and major highways like I-69 and I-45 makes it highly desirable for families seeking housing solution with convenience and accessibility. With the median home price in the area skyrocketing to $192,702—a remarkable 10% year-over-year increase—Boreas Apartments emerge as a top-notch value-add prospect. Notably, rents at this property are currently under market value, presenting investors with a unique opportunity
for immediate upside potential. By strategically renovating both the interior and exterior of the property and implementing RUBS to optimize utility expenses, investors can unlock the full potential of this property, maximizing cash flow and long-term returns. Don't miss out on the chance to capitalize on the area's robust rent growth and secure your investment in Boreas Apartments today!
Property Details
- Class
- C
- Year Built
- 1985
- Stories
- 1
- Lot Size (sq. ft)
- 21,780 SF
- Units
- 10
Highlights
- 90% occupied, 10 units in high demand location
- Value add deal with under market rents & opportunity to optimize utility expenses
- Quick access to I-69, I-45, Beltway 8, Hardy Toll Road and Downtown Houston. Located directly next to schools & blue collar employment hub
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