Forest Palm Apartments
119 Unit Apartment Building | For Sale | Houston, TX 77013
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Multifamily
- Square Feet
- 83,938 SF
Listing Contacts
Andrew Nash
Verified Profile
- Property Info
Property Overview
Marcus & Millichap is pleased to present this meticulously maintained 119-unit apartment complex, originally built in 1974, rebuilt in 2012, and renovated in 2018, the property boasts favorable financing through assumption and is located at 815 Autumnwood Dr in Houston, Texas.
The complex is comprised of 73 one-bedroom units / 41 two-bedroom units / 2 three-bedroom units / 2 efficiency units and 1 four-bedroom unit. Property amenities include on-site management, a leasing office, laundry facilities, reserved parking, and a park and playground for tenants' use.
Since its reconstruction, the property has been exceptionally well-kept and consistently boasts high occupancy, all while operating at a very efficient rate.
This investment opportunity offers immediate cash flow, with the potential to increase rents and explore expansion possibilities with the included 2.5 acres of vacant land, providing investors with both stability and growth potential.
The complex is comprised of 73 one-bedroom units / 41 two-bedroom units / 2 three-bedroom units / 2 efficiency units and 1 four-bedroom unit. Property amenities include on-site management, a leasing office, laundry facilities, reserved parking, and a park and playground for tenants' use.
Since its reconstruction, the property has been exceptionally well-kept and consistently boasts high occupancy, all while operating at a very efficient rate.
This investment opportunity offers immediate cash flow, with the potential to increase rents and explore expansion possibilities with the included 2.5 acres of vacant land, providing investors with both stability and growth potential.
Property Details
- Class
- C
- Year Built/Renovated
- 1974/2018
- Stories
- 2
- Lot Size (sq. ft)
- 119,790 SF
- Units
- 119
Highlights
- A turnkey cash-flowing asset that would be a fantastic addition to any portfolio
- Extremely favorable assumable loan at just 3.79% that is fixed into 2027
- Investors can enjoy cash flow from day 1 with the property currently netting over $25,000/month after debt service
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