713-355-4646
12803 Northborough Dr, Houston, TX for Sale
Apartments - FOR SALE
1/47
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12803 Northborough Dr
Houston, TX 77067
Greater Greenspoint


HIGHLIGHTS

  • Property is in Bankruptcy
  • Located in the Greenspoint/Aldine Area of North Houston
  • Blue-Collar Profile
  • Easy Access to I-45 and Beltway 8
  • Rehabbed in 2017 and 2018
  • Excellent Value Add Potential

OVERVIEW

The Mira Vista Apartments, is a two story, garden-style, apartment community, formerly known as OakBend, located in the Greenspoint/Aldine sub-market of north Houston, Texas. The asset was built in 1979 and per owner, was rehabbed in 2017. Residents enjoy ample amenities which include: mini-blinds, kitchen pantries, ceiling fans, laundry facilities, patios and balconies and walk-in closets. Per owner, the property is in bankruptcy and the court has ordered a sale. There is no RUBS. Implementation of a water RUBS could generate additional income. A recent site visit revealed, one building of 16 units had a major fire recently and is boarded up.  It may cost approximately $50k/door to fix. Per owner, there will be insurance coverage for the burned units. There are two more units down but not as bad than the burn units. The parking lot looked ok.  The property probably needs an exterior paint job and some stucco work. Known for the many businesses in the area, the Greater Greenspoint represents a diverse area and a number of neighborhoods that are bisected by Interstate 45. Greater Greenspoint has a lower cost of living than many of the surrounding communities. Families migrate to this area to enjoy the great schools and amenities, but renters of every walk of life will appreciate the array of apartments and nearby conveniences. This neighborhood lies 20 minutes outside of Downtown Houston, meaning a night out or a fun-filled afternoon is well within reach.

FOR SALE DETAILS

PRICE

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# OF UNITS

352

CAP RATE

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% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mira Vista

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1979

PARKING SPACES

-

LAND DETAILS

LAND ACRES

9.82 AC

LAND SF

427,759 SF

ZONING

N/Av, Houston

APN/PARCEL ID

1127570000001

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Tom WilkinsonKET Enterprises IncorporatedMore Info
713-355-4646

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Tom WilkinsonKET Enterprises IncorporatedMore Info
713-355-4646

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