apt by ocean

Summary:

37 Unit Texas Apartment Complex for sale for $1.65M earning a 10%+ Cap Rate annually at 94% Occupancy with Ocean View.  Long term tenants in place, with reservations for future tenants due to ocean view location.

NEED ADDRESS: SIGN commission protection agreement – OR if you have done business with us before simply reply back to us. (keep in mind your agreements expire every 2 weeks)

For Sale

Price $1,650,000
Price/Unit $44,594
Cap Rate 10.00%
NOI $165,000
Sale Type Investment
Status Active
On Market 1 Day
Last Updated Jun 21, 2017
Beds Units Avg SF Asking Rent/Unit Asking Rent/SF Concession
2
18
1,000
$658
$0.66
0.7%
3
19
1,200
$754
$0.63
0.7%
Totals
37
1,103
$707
$0.64
0.7%
Updated December 11, 2016

Building

Type 2 Star Apartments
Units 37
Avg Unit Size 1,103 SF
Stories 2
Year Built 1978
Class C
GBA 45,500 SF
Typical Floor 22,750 SF
# of Buildings 10
Market Segment All
Rent Type Market
Taxes $717.55/Unit (2016)
Opex $2,991.00/Unit (2012)

Land

Land Acres 2.49 AC
Bldg FAR 0.42
Land SF 108,464 SF
Zoning N/A

Amenities

Unit Amenities
  • Air Conditioning
  • Dishwasher
  • Disposal
  • Heating
  • Oven
  • Range
  • Refrigerator
  • Tile Floors
  • Walk-In Closets
  • Washer/Dryer Hookup
2016 Assessment
Improvements
Land
Total Value
 $939,986
 $332,795
$1,272,781
$25,405/Unit
$8,994/Unit
$34,399/Unit

Demographics

1 Mi 3 Mi
Population
3,561
5,639
Households
1,214
1,790
Average Age
37.10
38.20
Median HH Income
$36,857
$40,259
Daytime Employees
90
298
Population Growth ’17-’22
2.1%+
2.0%+
Household Growth ’17-’22
2.0%+
1.8%+

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