12 Unit Turnkey Complex, Freeport, TX - 11% Cap, $550k

[Belinda Lopez]

Turnkey income! This property was custom built by the construction expert owner to last. Beautiful interiors and just minutes from major employers (Dow & BASF) make this one of the most desirable locations in the area. This complex never has vacancy for more than a few days. Complex includes 9 Studio efficiency apartments and three 2-1 units. Property is 100% occupied.

2013 Reported Income: $85,679.00

9 Studio - $750/mth, $500 deposit, 3 Two bedrooms - $900/mth - $500 deposit - all bills included.

Expenses: (Owner self manages) $24,673.49

NOI: $61,005.51

More Photos at: http://flic.kr/s/aHsjU4Y5PV

Address: 3527 FM 523, Oyster Creek, TX (an hour south of Houston)

NDA/Non-compete agreement as well as Proof of Funds for down payment required to see property details and full financials. $5,000 earnest money required for purchase contract. Call 832-472-6902 or PM for more info.