203 E Watson St - Apartments FOR SALE
Willis, TX 77378 |
$5,300,000 USD
346-326-8993
203 E Watson St
Willis, TX 77378
HIGHLIGHTS
- Willis South Apartments is a market-rate apartment complex with stable cash flow supported by USDA voucher-backed rents and market-rate tenants.
- Formerly rent-subsidized but now unrestricted, it offers 48 units, operational flexibility, and upside via rent optimization and value-add utilities.
- Clean USDA physical inspection reflects strong property condition and well-maintained on-site leasing office, laundry facility, and tenant amenities.
- Receive stable income from voucher rents up to $1,461 per month on select two-bedroom units with remaining units leased at full market rates.
- Ratio Utility Billing System implementation helps reduce operating costs as the tenant pays for electricity and the owner pays water, sewer and trash.
- Benefit from long-term financial stability with positioning inside a high-growth North Houston submarket with 4.7% projected annual population growth.
FOR SALE DETAILS
PRICE
$5,300,000 USD
# OF UNITS
48
PRICE/UNIT
$110,417
CAP RATE
7.42%
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Willis South
PROPERTY TYPE
Multi-Family
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1979
PARKING SPACES
71
LAND DETAILS
LAND ACRES
2.72 AC
LAND SF
118,483 SF
ZONING
-
APN/PARCEL ID
8240-00-07000,8240-00-07100
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346-326-8993
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346-326-8993
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