This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
2006 43rd St
Houston, TX 77018
The Grove at 43rd · Multifamily Property For Sale
·
80 Units
PROPERTY FACTS
| No. Units | 80 | Building Size | 52,600 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1972/2016 |
| Building Class | B | Parking Ratio | 2.09/1,000 SF |
| Lot Size | 1.76 AC |
| No. Units | 80 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.76 AC |
| Building Size | 52,600 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2016 |
| Parking Ratio | 2.09/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Heating
- Security System
- Crown Molding
- Hardwood Floors
- Ice Maker
- Refrigerator
- Range
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Business Center
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Gated
- Grill
- Laundry Service
ABOUT 2006 43RD ST , HOUSTON, TX 77018
The Grove at 43rd Apartments is a two story, garden-style, apartment community located in the Garden Oaks submarket of Houston,Texas. The asset was built in 1992. Residents enjoy ample amenities which include: mini-blinds, kitchen pantries, ceiling fans, laundry facilities, patios and balconies, walk-in closets. In 2015 and 2016, the Owner did a "gut rehab" and took the building to the studs, and added new sheet rock, wiring, interior plumbing, thermal pane windows, black appliances, new granite counter tops, new faux wood flooring, doors, hardware and did extensive exterior work including roofs, A/C, parking, common areas, etc. The condition of the interiors is equivalent to new construction. Note that the property does not presently bill for water/sewer, pest control or reserved parking, but this could be implemented to enhance cash flow. Reportedly 90%+ of all Houston area projects bill for water. The most comparable property is the Reserve at Garden Oaks for a rent comp due to the high level rehab at the Reserve! Adding washer/dryers at an estimated $2,500-$3,500/unit should boost revenue by $150-$175/unit/mo! The existing conduit loan must be assumed but it is only for a 5 year term. *The owner recently changed management to Kaplan Management and collections have started to rise!
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 40 | - | 545 |
| 2+1 | 36 | - | 750 |
| 3+2 | 4 | - | 950 |
PROPERTY TAXES
| Parcel Number | 0845310000014 | Improvements Assessment | $5,078,300 |
| Land Assessment | $1,921,700 | Total Assessment | $7,000,000 |
PROPERTY TAXES
