5202 County Road 469
Brazoria, TX 77422
Multifamily Property For Sale · 8 Units

The property is 1.38 acres situated on the lower end of the San Bernard River. Also nestled between two wildlife refuges on either side of the river. We are about 4 miles from the Intracoastal canal and another mile or so from the coast, but the beach may only be reached by boat. The area is known for its great saltwater fishing, bird hunting/watching, boating, skiing/wakeboarding/tubing, kayaking, hiking, as well as many other outdoor activities. To the owner’s knowledge, the property has never flooded. The property did not flood during, or after, hurricane Harvey in 2017. However, the property was inaccessible for a period of time due to flooding in surrounding areas. Property Property was first purchased in 2007. It required a full rehab and both buildings were taken down to the studs. All of the plumbing and electrical was replaced in 2007-2008. All cabinets, flooring, plumbing and light fixtures replaced in all 8 units. Walls were insulated with R19 insulation, ceilings with R30. Entry doors were replaced with new steel doors and all the replacement windows are double pane. The rolled roof was also replaced in or around 2010. Around the same time a new water well was installed. And the 2-horse power motor and water pump were just replaced in October of 2018. The well is on its own electrical service meter. The septic system is an anaerobic system with multiple field lines. It has had a few updates and it performs as intended without any issues. There are two buildings on the property. One, 8-unit 2 story building, all units are 380 sq. ft. efficiency apartments with the same floor plan. Additionally, there is a 900 sq. foot 3-bed, 2-bath home. It is constructed on 10-foot pilings/stilts, with enclosed storage/workshop underneath. It has new plumbing and new electrical roughed in. The drywall is installed and has been taped, floated, textured, and painted. Both bathroom vanity’s, with sink and faucet installed and are on site. Master bath tub is installed and plumbed with the tile surround installed and grouted. Some of the remaining items are as follows: kitchen cabs, counters, lighting fixtures, doors and trim, flooring, appliances, and guest bath shower needs tile installed (shower pan is already installed). Marketing Until the beginning of 2017, all the lengths of tenancy were normally 12-month leases. At the time the rent ranged from $625 to $695 per month for an unfurnished unit. (At that time, we did not offer furnished apartments). These rates were considered to be below market. The current market rate for a one year lease of this type in the area (unfurnished) is $875 per month. In 2017 we decided to market to short term tenancy and offer fully furnished units. There are many plants in the area and workers contracts can range anywhere from 1-6 months. Weekly rents ranged from $275 to $350, depending on occupancy and the length of time that the guest had been there. We would discount the rates after the guest was there for an extended amount of time, but it was not expected. I currently use Airbnd and VRBO for marketing the property, as well as word of mouth from current guests. Prior to Airbnd and VRBO, a classified ad ran in a local paper, The Source Weekly, that is given out free at most of the local businesses in Brazoria, Clute, Lake Jackson, Freeport, Angleton, etc.