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Updated over 10 years ago,
Anyone know the Port Arthur, TX multifamily market?
I'm looking at investing in an apartment complex in Port Arthur, and am looking for good info on the MF market there. I like all the numbers for the property, and the projections look conservative-- based on my DFW knowledge. For all I know, the economic loss numbers that I think look really conservative might be unrealistic for that area.
I'm trying to get down there in the next week or so to check it out, but if anyone has any experience or knowledge of the market I'd greatly appreciate any input. I know unemployment is a little high, and its dependent on the oil/gas industry. Supposedly there will also be some LNG export facilities going in, but I don't know if the data I'm seeing already includes that.
Specifically, I'd like to know if there are a lot of multifamily properties there, and if occupancy is an issue.
Thanks for any input you may have.