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406 W 15th St
Bryan, TX 77803
Sterling Park Square Apartments · Multifamily Property For Sale
·
14 Units
Property Facts
| No. Units | 14 | Building Size | 18,758 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Apartment Style | Garden | No. Stories | 1 |
| Lot Size | 1.67 AC | Year Built | 1994 |
| No. Units | 14 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 1.67 AC |
| Building Size | 18,758 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1994 |
About 406 W 15TH ST , BRYAN, TX 77803
This property includes 4 duplexes and 6 houses all located together on one city lot in Bryan, Texas. The current purpose of this project is to provide housing for low to moderate income families. There is a LURA in place that expires in 2024. The ideal value play on this property is to continue operating it as an affordable housing project and hold until the LURA expires, then have the option of converting it to conventional/market rate housing. At this point, the 1st loan will be paid off and the 2nd loan balance will be forgiven. With the $0 loan balance, you could either refinance and do the market rate conversion or finance the rehab out of cash flow and have a paid off property.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 14 | $680.00 | 1,325 |
Property Taxes
| Parcel Number | 22831 | Improvements Assessment | $853,928 |
| Land Assessment | $149,769 | Total Assessment | $1,003,697 |
Property Taxes
