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Fountainhead Wharton Apartments 526 Wilkes St 8 Unit Apartment Building $1,300,000 ($162,500/Unit) 10% Cap Rate Wharton, TX 77488
INVESTMENT HIGHLIGHTS
- Almost fully lease property, NEWLY RENOVATED!!!
EXECUTIVE SUMMARY
This 16-unit, 40,378-square-foot multifamily property sits on 0.926 acres in the growing Wharton market. Built in 1977, it offers solid construction and value-add potential. Located near Houston, it benefits from strong rental demand and area growth. A prime opportunity for steady cash flow and long-term appreciation.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $1,300,000 | Building Class | C |
| Price Per Unit | $162,500 | Lot Size | 0.92 AC |
| Sale Type | Investment | Building Size | 40,378 SF |
| Cap Rate | 10% | Average Occupancy | 87% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1977/2025 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden |
| Price | $1,300,000 |
| Price Per Unit | $162,500 |
| Sale Type | Investment |
| Cap Rate | 10% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.92 AC |
| Building Size | 40,378 SF |
| Average Occupancy | 87% |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2025 |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Range
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | R057705 | Improvements Assessment | $552,954 |
| Land Assessment | $3,600 | Total Assessment | $556,554 |
PROPERTY TAXES
Parcel Number
R057705
Land Assessment
$3,600
Improvements Assessment
$552,954
Total Assessment
$556,554
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Fountainhead Wharton Apartments | 526 Wilkes St
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