2454 E Price Rd | Brownsville, TX 78521
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2454 E Price Rd
Brownsville, TX 78521
La Residencia & Bonaventure Apartments · Multifamily Property For Sale
·
244 Units
INVESTMENT HIGHLIGHTS
- Strong property operations with outstanding leasing momentum - 25% rent increases on recent lease tradeouts
- Proven value-add concept with upside remaining - recently upgraded units are receiving $179 avg. rent premiums and 152 classic units remain
- Proximity to top area employers and conveniences, including the Port of Brownsville, SpaceX, Keppel AmFELS, Walmart Supercenter, & H-E-B
- Below market rents compared to comparable properties - average rents at the Property are $0.09 PSF less than the comps
- Robust multifamily market with limited supply - Brownsville has an average occupancy of 97.6% with 8.8% YOY rent growth
PROPERTY FACTS
| No. Units | 244 | Building Size | 142,760 SF |
| Property Type | Multifamily | Average Occupancy | 97% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1975 |
| Building Class | B | Parking Ratio | 1.89/1,000 SF |
| Lot Size | 7.72 AC |
| No. Units | 244 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 7.72 AC |
| Building Size | 142,760 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1975 |
| Parking Ratio | 1.89/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Fireplace
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Built-In Bookshelves
- Freezer
- Patio
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Fitness Center
- Laundry Facilities
- Picnic Area
- Pool
- Grill
- Online Services
- Sundeck
- Public Transportation
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 92 | $893.00 | 701 |
| 2+1 | 44 | $1,053 | 990 |
| 2+2 | 96 | $1,054 | 1,119 - 1,136 |
| 3+2 | 12 | $1,282 | 1,324 |
PROPERTY TAXES
| Parcel Number | 049200-0090-000000 | Improvements Assessment | $4,798,688 |
| Land Assessment | $951,312 | Total Assessment | $5,750,000 |
PROPERTY TAXES
Parcel Number
049200-0090-000000
Land Assessment
$951,312
Improvements Assessment
$4,798,688
Total Assessment
$5,750,000
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