1107 Palestine St - Multi-Family FOR SALE


Conroe, TX 77301- Downtown Conroe
$880,000 USD
281-682-6069
1107 Palestine St, Conroe, TX for Sale
$880,000 USD
Multi-Family - FOR SALE
1/25
null | 7.7% Cap Rate

1107 Palestine St
Conroe, TX 77301
Downtown Conroe


HIGHLIGHTS

  • Located in the growing Conroe market with access to everyday amenities and services.
  • Consistently maintained with ongoing updates completed during tenant turnovers.
  • Highly sought after complex with waiting list for tenants.
  • Recent improvements include interior paint, updated plumbing fixtures, replaced windows, and appliance upgrades.
  • On-site coin-operated laundry facility provides added tenant convenience.
  • Convenient access to employment centers, grocery stores, shopping, dining, and entertainment.

OVERVIEW

Excellent investment opportunity, 12 unit multi-family in Conroe, Texas. This 12 unit efficiency apartment complex offers convenient access to employment, grocery stores, shopping, dining, entertainment, and other everyday amenities, making it an attractive and convenient location for tenants. The property has been consistently maintained, with updates performed as needed during tenant turnovers. Improvements include fresh interior paint, some appliances, updated plumbing fixtures, replaced windows, and other ongoing maintenance designed to keep the units cleaned, functional and rentable. All 12 units are equipped with new or nearly new water heaters. Electrical panels serving the individual units have also been updated with code and insurance approved panels, addressing two significant building systems that perspective investors often consider when evaluating an older, multi-family property. The property offers an on-site coin operated laundry room, and maintenance shed equipped with tools, miscellaneous parts, etc. to properly maintain the building, with an established rental income stream that presents an excellent opportunity for an investor seeking steady cash flow from a manageable multi-family asset in the growing conroe market. With 12 units, an established operating history, ongoing property improvements, and a convenient location, this property offers a strong combination of current income and long-term investment potential.

FOR SALE DETAILS

PRICE

$880,000 USD

PRICE/SF

$169 USD /SF

# OF UNITS

12

PRICE/UNIT

$73,333

CAP RATE

7.7%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,322 SF

ZONING

-

APN/PARCEL ID

2640-00-04200

ASK ABOUT THIS PROPERTY

Brandi BurkeStrong Real Estate Co.More Info
281-682-6069

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Brandi BurkeStrong Real Estate Co.More Info
281-682-6069

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