This Multifamily Property is Off-Market.

8800 S. Braeswood
Houston, TX 77031 ·

122 Units · Multifamily For Sale

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BRAESWOOD ATRIUM

Price N/A Property Use Type Investment
No. Units 122 Occupancy 80%
Building Size 120,390 SF No. Stories 7
Property Type Multifamily Year Built 1983
Property Sub-type Mid/High-Rise Lot Size 4.80 AC
Listing ID: 16374829 Date Created: 08/28/2009 Last Updated: 08/05/2010

Description

*****PRICE STEEPLY REDUCED!*****BEAUTIFUL, SEVEN-STORY MID-RISE ATRIUM PROPERTY located in southwest Houston. The enclosed atrium houses a beautiful fountain and a social area. Additionally, the project offers residents a large swimming pool, fitness center, tennis courts and covered parking. Per owner, hurricane renovations have been completed including the installation of a security system, exterior and interior paint, new carports, cooling tower and mechanical room upgrades and unit upgrades. The project is in the process of being converted to condos.

Directions: From Highway 59, travel south to the Bissonnet exit. Turn left under the freeway. At the fork, continue right. The property is the 7-story building on the left.

Highlights

  • PRICE STEEPLY REDUCED!
  • Newly remodeled with tennis court, beautiful swimming pool, state of the art fitness center, atrium
  • Financing in place; Discount price; Non-recourse; High leverage - Only 10% down
  • Negative cash flow for approximately 4-6 months during lease-up
  • After capitalizing negative cash flow during lease-up total capital is less than 20% down
  • Property value upon 90% occupancy would be nearly $1,000,000 more than purchase price!

Research

8800 S. Braeswood, Houston, TX 77031 (Harris County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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