$3,500,000
000 Undisclosed ave, League City, TX 77535
Current Rent **
$10,000+
Projected Rent **
N/A
15% cash-on-cash return with this rare jewel "Class B"apartment complex in Downtown League City, TX.
Apartments are currently 84% leased and need experienced management. By adding experienced management, raising rents by a minimum of 5% and as much as 38%, and billing back utilities increase the cash flow immediately. The re-positioning will create an asset that provides both cash flow and positive equity growth in a very hot and growing market.
A healthy mix of 1/1, 2/1, 2/1.5, 2/2, 3/2 units makes these units highly desirable in a market where not too many 3 bedrooms are available; you will dominate the 3/2 market. Some improvements have lowered maintenance costs due to recent upgrades to redundant tankless water heaters and energy efficient appliances and light bulbs.
A condo conversion is another possible exit strategy and wealth generating idea; downtown League City is begging for home ownership opportunities.
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Location:
000 Undisclosed ave, League City, TX 77535
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** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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