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Timbers Apartments 1500 Sam Houston 60 Unit Apartment Building For Sale Harlingen, TX 78550
Investment Highlights
- Stable Asset with Strong Going-In Yield
- Below Market Rents Compared to Similar Properties
- Attractive Basis Relative to Recent Sales
- Excellent Value-Add Opportunity
Executive Summary
Stable Asset, Attractive Basis, and Below Market Rents
Property Facts
| Sale Type | Investment | Lot Size | 2.18 AC |
| No. Units | 60 | Building Size | 72,406 SF |
| Property Type | Multifamily | Average Occupancy | 92% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1980 |
| Building Class | C | ||
| Zoning | Residential | ||
| Sale Type | Investment |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.18 AC |
| Building Size | 72,406 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1980 |
| Zoning | Residential |
Amenities
Unit Amenities
- Air Conditioning
- Ceiling Fans
- Refrigerator
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 22 | - | 545 |
| 1+1 | 8 | - | 717 |
| 1+1.5 | 6 | - | 995 |
| 2+1 | 6 | - | 850 |
| 2+1.5 | 6 | - | 1,178 |
| 2+2 | 12 | - | 1,152 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 170015-0010-001000 | Improvements Assessment | $2,161,490 |
| Land Assessment | $185,223 | Total Assessment | $2,346,713 |
Property Taxes
Parcel Number
170015-0010-001000
Land Assessment
$185,223
Improvements Assessment
$2,161,490
Total Assessment
$2,346,713
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Timbers Apartments | 1500 Sam Houston
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