460 Hwy 332
Lake Jackson, TX 77566
The Monaco Villas · Multifamily Property For Sale · 160 Units

The Monaco Villas Apartments are well located just on Hwy 288 (Nolan Ryan Expy) in Lake Jackson, Tx., which is part of the Houston MSA. The property is in the Brazosport market, a sub-market to Houston. Houston is approximately 40 miles north of the property. Lake Jackson is home to the Dow Chemical Innovation Center and the Texas Dow Employee Credit Union, Dow is the largest chemical complex in the world. A few of the top employers that are minutes from the property are; Dow Chemical Company, Fluor Corporation, Zachry Group, Phillips 66, BASF Corporation and Excel. Currently management reports that there are approximately 3 down units. Property Information - In the last 3 years the owner has invested approximately 2 million in capital improvements which includes; all new roofs in March 2019, a rehabbed leasing office, new appliances, flooring and carpet replacements in many units, includes 478K in interior improvements including, painting, hardware, lighting, fans, countertops and more. It also includes158K in HVAC repair/replacement, fence and gate replacement, and some exterior improvements to the lighting and landscaping. The property is a "C" grade property in a B+ area, therefore it is possible a new owner could see upside with continued interior and exterior improvements. Unit Features - Large Spacious 1, 2 and 3 Bedroom Floor Plans, Fully Equipped all Electric Kitchens, Tile, Carpet and Faux Wood Flooring, Window Coverings, Ceiling Fans, Resurfaced Counter-tops, White Appliances, Shower/Bathtub Arrangement, Ceramic Tub and Tile surround, Decorative Bathroom Mirrors, Updated Toilets, Cable Ready, Wood Cabinets, Dishwasher, Ice-Maker & Garbage Disposal, Walk-in Closets, Washer and Dryer Hookups in all 2B / 2B and 3B / 2B units, (Interior appointments vary in each design).