3rd Street Village is located in the heart of the Clear Lake-League City-Webster submarket of SE Houston, Texas area. The asset was constructed in 1970 and has since had some rehab. 3rd Street Apartments offers residents a swimming pool, patios/balconies and open parking. This is a distressed deal. A buyer must correct expenses here. Although the rent roll shows units as individually metered, the property in fact has a single master meter for electricity. All tenants pay a flat fee that covers utilities, which often leads to higher-than-average usage. Additionally, many HVAC systems are outdated or in need of repair, further contributing to increased electricity costs. The previous property management company had an active Comcast internet service for the intercom and office, costing approximately $480/month. Current owner has since canceled this service. A CapEx list and a CapEx Forecast is available upon request for details on planned improvements. In addition, it is recommended to reserve at least $50,000 for major items such as sewer line replacement, roof repairs or replacement, and exterior maintenance.