205 E Watson St | Willis, TX 77378
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- LoopNet Team
205 E Watson St
Willis, TX 77378
Willis South Apartments · Multifamily Property For Sale
·
48 Units
INVESTMENT HIGHLIGHTS
- Willis South Apartments is a market-rate apartment complex with stable cash flow supported by USDA voucher-backed rents and market-rate tenants.
- Clean USDA physical inspection reflects strong property condition and well-maintained on-site leasing office, laundry facility, and tenant amenities.
- Ratio Utility Billing System implementation helps reduce operating costs as the tenant pays for electricity and the owner pays water, sewer and trash.
- Formerly rent-subsidized but now unrestricted, it offers 48 units, operational flexibility, and upside via rent optimization and value-add utilities.
- Receive stable income from voucher rents up to $1,461 per month on select two-bedroom units with remaining units leased at full market rates.
- Benefit from long-term financial stability with positioning inside a high-growth North Houston submarket with 4.7% projected annual population growth.
PROPERTY FACTS
| No. Units | 48 | Building Size | 40,000 SF |
| Property Type | Multifamily | Average Occupancy | 92% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1979 |
| Building Class | B | Parking Ratio | 3.02/1,000 SF |
| Lot Size | 2.67 AC | ||
| Zoning | 4 | ||
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.67 AC |
| Building Size | 40,000 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 3.02/1,000 SF |
| Zoning | 4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,000 | 750 |
| 2+1 | 40 | $1,460 | 1,000 |
PROPERTY TAXES
| Parcel Number | 8240-00-07000 | Improvements Assessment | $763,654 |
| Land Assessment | $95,397 | Total Assessment | $859,051 |
PROPERTY TAXES
Parcel Number
8240-00-07000
Land Assessment
$95,397
Improvements Assessment
$763,654
Total Assessment
$859,051
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