BK VERDE APARTMENTS 206 Plaza Verde Dr 80 Unit Apartment Building For Sale Houston, TX 77038

BK Verde is a 80 unit, 2-story, garden style apartment community located in the Greenspoint submarket of Northwest Houston. Note that one unit is used as an office currently. It is possible to rent this unit but it is non revenue now (see Unit Mix). The apartments are located in a quiet, residential neighborhood with surrounding wooded areas that are an appealing feature of the asset. Constructed in 1983, the property offers efficiencies and 1 and 2 bedroom units. The property is conveniently located at I-45 and Beltway 8 and has convenient access to the Houston Intercontinental Airport, Downtown and the Galleria. There are several fine dining and entertainment establishments located in the area.
There are 28 other units in the complex owned by this owner that will be available at a later time. These have been fire damaged and are either under repair or awaiting an insurance claim. Of the 28 units, 7 units which had burned, have had the exteriors redone and the owner will have 7 new units available for rent and sale in the next 90 days (estimated).

BK Verde has 55% of 182 units in the NVG HOA complex. BK Verde has close to 53% board control which is based on square footage and not on unit count. The total number of units BK Verde owns is 108 and 80 are for sale. 28 fire damaged units will go on sale upon completion.
The HOA will consider selling the vacant land (see aerial) at a good price to enable a builder to add more units!
Available on an All Cash or New Loan Basis
Located in the Bush Airport region of North Houston
? Blue-Collar Profile
Easy Access to I-45 and Beltway 8
Close Proximity to Bush Intercontinental Airport
Approximately $1,862,985 Has been Expended for Renovations
Per Owner the Roofs Were Repaired/Replaced in 2023
Minutes From the 1000 acre Pinto Business Park
Excellent Employment Base in the North Houston Business District
One of the units is used as an Office and is non revenue producing