Historical Multifamily Sale Listing - BRAESWOOD ATRIUM

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BRAESWOOD ATRIUM

8800 S. Braeswood, Houston, TX 77031

N/A

122 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
122
Building Size:
120,390 SF
Property Type:
Multifamily
Property Sub-type:
Mid/High-Rise
Property Use Type:
Investment
Occupancy:
80%
No. Stories:
7
Year Built:
1983
Lot Size:
4.80 AC
Listing ID
16374829
Last Updated
over 1 year ago

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!

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.

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

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