1305 Memorial Dr | Baytown, TX 77520
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- LoopNet Team
1305 Memorial Dr
Baytown, TX 77520
1305 Memorial Apartments · Multifamily Property For Sale
·
44 Units
INVESTMENT HIGHLIGHTS
- Cash flowing property with a true value-add story via rent increases that could be realized at $100,000 plus over the next couple years.
- Rents are $70 less than comparable properties, however that does not include approximately $150 of utilities that the property pays.
- 1305 Memorial is a traditionally high occupancy property with approximately 97% occupancy now.
- Owner has spent nearly $1 million in Capex – vast majority of which are exterior and facilities including Electrical, HVAC, Plumbing and Roof.
- This property differentiates itself by operating as “all bills paid” which allows tenants to move in with less upfront expense.
- A new owner could increase rents beyond comps by upgrading interiors to include granite countertops and stainless steel appliances.
PROPERTY FACTS
| No. Units | 44 | Building Size | 35,688 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1965 |
| Building Class | C | Parking Ratio | 1.65/1,000 SF |
| Lot Size | 1.38 AC |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.38 AC |
| Building Size | 35,688 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.65/1,000 SF |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Tenant Controlled HVAC
- Pet Play Area
- Recycling
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 30 | - | 740 |
| 2+1 | 5 | - | 949 |
| 2+2 | 4 | - | 1,000 |
| 3+1 | 5 | - | 1,100 |
PROPERTY TAXES
| Parcel Number | 0451440030064 | Improvements Assessment | $2,482,373 |
| Land Assessment | $308,585 | Total Assessment | $2,790,958 |
PROPERTY TAXES
Parcel Number
0451440030064
Land Assessment
$308,585
Improvements Assessment
$2,482,373
Total Assessment
$2,790,958
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