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Phlox Duplexes 4201-4203 Phlox St 28 Unit Apartment Building For Sale Houston, TX 77051
INVESTMENT HIGHLIGHTS
- All Cash or New Loan
- Steadily Improving Area
- Possible Owner Financing
- Located in The Hwy 288 South Submarket Of Houston
- Blue Collar Tenant Profile
- Roofs Replaced in 2022 or 2015
EXECUTIVE SUMMARY
The Phlox Duplexes are located in the heart of the Hwy 288 S/Pearland West submarket of Houston. The asset was constructed in 1956 and has had some extensive rehab . Residents enjoy amenities and features which include walk-in closets, in unit washers and dryers and ceramic flooring in select units.
Owner estimated rehab: Heavy interior rehab: approx $21,400/unit
Heavy exterior rehab: approx $460,000/property
Phlox Duplexes is located in Sunnyside neighborhood in southern Houston, and per owner, is known as one of the most dangerous high crime areas in Houston. Because of this, the owner has not yet been able to find sufficient prospective residents that meet the standards to ensure the safety and wellbeing of the Phlox community. As part of efforts to boost the occupancy in the coming months, there have been ramped up efforts to reach qualified tenants using refined demographic targeting, including incentives tailored for renewals and referrals.
Nestled just eight miles south of Downtown Houston, residents of Sunnyside find its close proximity to city attractions and low cost of living attractive. The community borders the 610 Loop and is inside the Beltway 8, making it simple for locals to commute to work.
There’s definitely a suburban vibe to the area. Students of Sunnyside are zoned to the Houston Independent School District. Residents look forward to the amenities at Sunnyside Park, including the playground, sports courts, walking/biking trails, and the gym that’s located in the community center.
Owner estimated rehab: Heavy interior rehab: approx $21,400/unit
Heavy exterior rehab: approx $460,000/property
Phlox Duplexes is located in Sunnyside neighborhood in southern Houston, and per owner, is known as one of the most dangerous high crime areas in Houston. Because of this, the owner has not yet been able to find sufficient prospective residents that meet the standards to ensure the safety and wellbeing of the Phlox community. As part of efforts to boost the occupancy in the coming months, there have been ramped up efforts to reach qualified tenants using refined demographic targeting, including incentives tailored for renewals and referrals.
Nestled just eight miles south of Downtown Houston, residents of Sunnyside find its close proximity to city attractions and low cost of living attractive. The community borders the 610 Loop and is inside the Beltway 8, making it simple for locals to commute to work.
There’s definitely a suburban vibe to the area. Students of Sunnyside are zoned to the Houston Independent School District. Residents look forward to the amenities at Sunnyside Park, including the playground, sports courts, walking/biking trails, and the gym that’s located in the community center.
PROPERTY FACTS
| Sale Type | Investment | Building Size | 20,322 SF |
| No. Units | 28 | Average Occupancy | 85% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1956 |
| Apartment Style | Garden | Parking Ratio | 1.18/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 1.03 AC | ||
| Zoning | N/Ap, Houston | ||
| Sale Type | Investment |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.03 AC |
| Building Size | 20,322 SF |
| Average Occupancy | 85% |
| No. Stories | 1 |
| Year Built | 1956 |
| Parking Ratio | 1.18/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | N/Ap, Houston |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
- Carpet
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
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PROPERTY TAXES
| Parcel Number | 0771330080018 | Improvements Assessment | $985,513 |
| Land Assessment | $494,373 | Total Assessment | $1,479,886 |
PROPERTY TAXES
Parcel Number
0771330080018
Land Assessment
$494,373
Improvements Assessment
$985,513
Total Assessment
$1,479,886
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Phlox Duplexes | 4201-4203 Phlox St
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