259 7th St | Somerville, TX 77879
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- LoopNet Team
259 7th St
Somerville, TX 77879
Fully Occupied Texas Triangle Apartments · Multifamily Property For Sale
·
6 Units
INVESTMENT HIGHLIGHTS
- The Commons at Somerville offers six fully occupied apartments with on-site parking and a prominent corner location two blocks from Highway 36.
- Submarket vacancy rates of just 7.5%, rental rates up 3.5% annually, and a pace of new construction 300 basis points behind the nation.
- Located within a designated Opportunity Zone, the asset provides investors with several significant potential tax incentives.
- Tenants enjoy easy access to Lake Somerville, reaching Welch Park, the Lake Somerville Lookout, and the Lake Somerville Marina in just 10 mins.
PROPERTY FACTS
| Sale Condition | Auction Sale | Lot Size | 0.36 AC |
| Type of Ownership | Fee Simple | Building Size | 5,530 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 2015 |
| Apartment Style | Garden | Parking Ratio | 1.27/1,000 SF |
| Building Class | C | ||
| Zoning | R-2 | ||
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 5,530 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2015 |
| Parking Ratio | 1.27/1,000 SF |
| Zoning | R-2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Refrigerator
- Range
- Tub/Shower
- Family Room
- Smoke Free
- Wheelchair Accessible (Rooms)
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