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1201 1st Ave S
Texas City, TX 77590
First Avenue Homes · Multifamily Property For Sale
·
16 Units
Investment Highlights
- All units have their own yard, driveway and washer dryer connections.
- Near by renovated rent comps are achieving ~$300 rent premiums compared to the Subject on average.
- Rent growth in Texas City was exceptional with rates increasing by nearly 35% cumulatively since the beginning of 2010.
- Excellent location within 1-mile from Texas City High School, Texas City Museum, and blocks from the Marathon Refinery and TX Refinery Corridor.
- Strong submarket fundamentals - 5.5% rent growth projected in 2022.
- Average market rent for a 2 bedroom unit in this submarket is just under $1,200. Almost $400 higher than current in place rents.
Property Facts
| No. Units | 16 | Lot Size | 0.80 AC |
| Property Type | Multifamily | Building Size | 13,200 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1984 |
| Building Class | C | ||
| Zoning | B | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.80 AC |
| Building Size | 13,200 SF |
| No. Stories | 1 |
| Year Built | 1984 |
| Zoning | B |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Kitchen
- Yard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 16 | $758.00 | 825 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,217,820 | |
| Land Assessment | $89,770 | Total Assessment | $1,307,590 |
Property Taxes
Parcel Numbers
Land Assessment
$89,770
Improvements Assessment
$1,217,820
Total Assessment
$1,307,590
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