10101 S GESSNER DR, Houston, TX, 77071 - Available for Sale

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BRAEBURN TERRACE 10 UNITS

10101 S GESSNER DR, Houston, TX 77071

$375,000

10 Units | Multifamily

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Multifamily Property For Sale Get Financing

Price:
$375,000
No. Units:
10
Building Size:
10,653 SF
Price/Unit:
$37,500
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
2%
Cap Rate:
8.22%
Occupancy:
100%
No. Stories:
1
Year Built:
1983
Listing ID
17384613
Last Updated
40 days ago

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Highlights

  • 100% OCCUPIED
  • CLOSE TO SUGARLAND, GALLERIA, DOWNTOWN & BELLAIRE
  • GATED COMPLEX

Description

10 units of this 140 unit complex are offered for sale. The property features 3-story brick and wood sided buildings, controlled gate access, swimming pool and covered concrete parking. The units are currently 100% occupied. 2 bed units are approx 1083 RSF. All units have been remodeled with tile flooring. All units include a refrigerator and most also come with a washer and dryer. The tenants also pay their own electricity. The home owners association provides garbage disposal & pick-up service, water, sewer, grounds upkeep and exterior building insurance. This project has a great potential for future buyers. The seller is willing to stay on for at least three months to help the new owner manage thru the transition. Buyer' s will need to acquiring third party financing however the seller may entertain a SMALL first or second lien. Sold at an estimated 8.22% cap rate.

PROPERTY IS LOCATED ON S GESSNER AND S BRAESWOOD NEAR HWY 59S IN THE SOUTHWEST AREA OF HOUSTON. CLOSE ACCESS TO SUGARLAND, BELLAIRE, THE GALLERIA AND DOWNTOWN.

Financial Summary

Unit Mix Information

Debt & Equity Information

  • Actual
  • 2012
  • $81,060
  • $81,060
  • $50,220
  • $30,840

Map of 10101 S GESSNER DR, Houston, TX 77071 (Harris County)

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Mark Dimas
Mark Dimas

Realtor, GRI, ABR, ALHS

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Asking Price Index Trends for Houston, TX Multifamily For Sale

  Feb 14 vs. 3 mo.
prior
Y-O-Y
-
State
$49,074+3.8%+17.5%
-
Metro
$40,774+1.5%+8.2%
-
County
$40,750-1.8%+7.6%
-
City
$44,450-0.5%+8.7%

View Houston Market Trends for other property types for sale or lease. Learn more about the chart info.

Created 10/21/2011
BRAEBURN TERRACE 10 UNITS
  • Multifamily
  • $375,000
  • 10 Units
  • 10,653 SF