1004 Austin St - Apartments FOR SALE


Portland, TX 78374- North Bay
$1,275,000 USD
361-643-2662
1004 Austin St, Portland, TX for Sale
$1,275,000 USD
Apartments - FOR SALE
1/14
null | 6.35% Cap Rate

1004 Austin St
Portland, TX 78374
North Bay


HIGHLIGHTS

  • Great NOI with room to increase rents
  • Good central location close to amenities
  • Easy management, even from afar
  • 10 units, variety of 1 & 2-bedroom types

OVERVIEW

10-Unit established apartment complex in booming Portland, 2 blocks from US Hwy 181, and under 5 minutes from Wal-Mart, Target, HEB grocery store, Academy, schools, restaurants, 5th & Elm, entertainment and much more.? Already refurbished to a good standard that can command even higher rent rates, this complex has 2x 1-bedroom units and 8x 2-bedroom units with 5 upstairs and 5 downstairs.? High comparative NOI and low on-site amenities/maintenance make this an easily managed property, even from a distance.? One dedicated parking spot per unit plus overflow spots.? Water is on one meter which Owner pays, but monthly assessments are paid by each tenant.? Individual electric meters for each unit.?

FOR SALE DETAILS

PRICE

$1,275,000 USD

PRICE/SF

$168 USD /SF

# OF UNITS

10

PRICE/UNIT

$127,500

CAP RATE

6.35%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Crescent Village

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

MF

APN/PARCEL ID

69671

ASK ABOUT THIS PROPERTY

Brenton ReaganCass Real EstateMore Info
361-643-2662

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Brenton ReaganCass Real EstateMore Info
361-643-2662

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.