205 E Watson St - Apartments FOR SALE
Willis, TX 77378 |
205 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
-
# OF UNITS
-
CAP RATE
-
% LEASED
-
BUILDING DETAILS
PROPERTY NAME
Willis South Apartments
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
40000
STORIES
2
YEAR BUILT
1979
PARKING SPACES
66
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
8240-00-07000
