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Crescent Village 1004 Austin St 10 Unit Apartment Building $1,275,000 ($127,500/Unit) 6.35% Cap Rate Portland, TX 78374
Investment Highlights
- Great NOI with room to increase rents
- Easy management, even from afar
- Good central location close to amenities
- 10 units, variety of 1 & 2-bedroom types
Executive Summary
10-Unit established apartment complex in booming Portland, 2 blocks from US Hwy 181, and under 5 minutes from Wal-Mart, Target, HEB grocery store, Academy, schools, restaurants, 5th & Elm, entertainment and much more.? Already refurbished to a good standard that can command even higher rent rates, this complex has 2x 1-bedroom units and 8x 2-bedroom units with 5 upstairs and 5 downstairs.?
High comparative NOI and low on-site amenities/maintenance make this an easily managed property, even from a distance.? One dedicated parking spot per unit plus overflow spots.? Water is on one meter which Owner pays, but monthly assessments are paid by each tenant.? Individual electric meters for each unit.?
High comparative NOI and low on-site amenities/maintenance make this an easily managed property, even from a distance.? One dedicated parking spot per unit plus overflow spots.? Water is on one meter which Owner pays, but monthly assessments are paid by each tenant.? Individual electric meters for each unit.?
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,275,000 | Building Class | B |
| Price Per Unit | $127,500 | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 8,400 SF |
| Cap Rate | 6.35% | Average Occupancy | 90% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1966/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.79/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MF - Multi-family, mixed use area adjacent to residential SF, Commercial, and a church. | ||
| Price | $1,275,000 |
| Price Per Unit | $127,500 |
| Sale Type | Investment |
| Cap Rate | 6.35% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.27 AC |
| Building Size | 8,400 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1966/2020 |
| Parking Ratio | 1.79/1,000 SF |
| Zoning | MF - Multi-family, mixed use area adjacent to residential SF, Commercial, and a church. |
Amenities
Unit Amenities
- Dishwasher
- Refrigerator
- Range
- Island Kitchen
Site Amenities
- Fenced Lot
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Individual Leases Available
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,000 | 695 |
| 2+1 | 8 | $1,200 | 777 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 69671 | Total Assessment | $656,790 |
| Land Assessment | $68,400 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $588,390 | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
69671
Land Assessment
$68,400
Improvements Assessment
$588,390
Total Assessment
$656,790
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025 Payable 2025
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Crescent Village | 1004 Austin St
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