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
3600 FM 2673
Canyon Lake, TX 78133
Canyon View Apartments · Multifamily Property For Sale
·
12 Units
PROPERTY FACTS
| No. Units | 12 | Building Size | 10,464 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1999 |
| Building Class | C | Parking Ratio | 2.29/1,000 SF |
| Lot Size | 1.45 AC |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.45 AC |
| Building Size | 10,464 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1999 |
| Parking Ratio | 2.29/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Heating
- Ceiling Fans
- Tile Floors
- Ice Maker
- Refrigerator
- Window Coverings
SITE AMENITIES
- Picnic Area
ABOUT 3600 FM 2673 , CANYON LAKE, TX 78133
Canyon Lake demand for apartments keeps this complex at near 100% occupancy and affordable rental rate assures vacancies are at a minimum. All units have kitchen appliances included. No Carpet in any unit. The current rent roll annual gross is $112,980 with One unit used as a short term rental netting an average $810/mo. Prior to the sale, the short term rental will be leased on a 12 month yielding total gross at about $124,000. There is upside potential to increase all leases to the market rent. Hard expenses have consistently hovered at $38,000; an additional $10k was spent on contract labor plus materials in 2018 to update and repaint apartments. Seven apartments were completely remodeled and most of the others have new LED lighting fixtures. In addition to the remodels, all needed repairs and maintenance were performed. The ProForma 2019 net, with all apartments leased (12 month lease) is $85,780. Should the owner require property management, the cost would be roughly $9900/year (8%) with a final net of $75880; at 8% cap, the purchase price would be $948,500.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 12 | $900.00 | 930 |
PROPERTY TAXES
| Parcel Number | 13-0320-0585-00 | Improvements Assessment | $285,287 |
| Land Assessment | $206,190 | Total Assessment | $491,477 |
PROPERTY TAXES
