This Multifamily Property is Off-Market.

3201 Laura Koppe / 3404 Berry Road
Houston, TX 77093 ·

56 Units · Multifamily For Sale

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Colonial Arms / Berry Street Portfolio

Price N/A Property Use Type Investment
No. Units 56 Cap Rate 6.59%
Building Size 33,970 SF Occupancy 98%
Property Type Multifamily No. Stories 2
Property Sub-type Garden/Low-Rise
Listing ID: 17647926 Date Created: 05/07/2012 Last Updated: 11/08/2012

Description

Marcus & Millichap is pleased to present the exclusive listing for Colonial Arms and Berry Street Apartments, a Class C portfolio consisting of two properties situated close to each other in Houston, Texas. The portfolio is positioned less than two miles north of the Interstate 610 Loop and just west of US 59. The proximity to Houston freeways makes this location extremely convenient for tenants. The portfolio offers numerous floor plans which consist of 12 efficiencies and 20 one-bedroom/one-bath units, 22 one-bedroom/one-bath units and two two-bedroom/one-bath units. Both properties have pitched composite roofs and brick and wood siding exteriors.

There are many employment opportunities located off US 59 with several businesses in the area related to heavy manufacturing and industrial facilities which mostly cater to the oil and gas industry, as well as retail and office buildings. The properties are close to the George Bush Intercontinental Airport. Some of the current company headquarters in the area include Expressjet Airlines, Noble Energy, Canrig DrillingTechnologies and Smith International. The city of Houston has 24 Fortune 500 companies including
ConocoPhillips, Sysco, Halliburton, Waste Management, EOG Resources and many others.

Highlights

  • REO / Lender Owned Property
  • 98 Percent Occupied
  • Cash Flow Day One
  • Rehab / Repositioning Opportunity
  • Minimal Repairs

Research

3201 Laura Koppe / 3404 Berry Road, Houston, TX 77093 (Harris County)

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