Concord Manor Apartments 5680 Concord Rd 68 Unit Apartment Building $3,850,000 ($56,618/Unit) 8.65% Cap Rate Beaumont, TX 77708
INVESTMENT HIGHLIGHTS
- 100% occupied
EXECUTIVE SUMMARY
Over 500k in Capex ,new office with Bathroom ,Laundry room washer /dryers are owned outright for extra income.
80% of A/C units have been replaced with new models ,New vinyl flooring in most of the units, roof is under 6 yrs old complex stays fully rented .Tenants pays their own utilities, 100% long term stable tenants with a waiting list .Value add property- Rents can go higher if wanted. Rubs system can also be implemented for utilities. This gem of a complex wont last long.
80% of A/C units have been replaced with new models ,New vinyl flooring in most of the units, roof is under 6 yrs old complex stays fully rented .Tenants pays their own utilities, 100% long term stable tenants with a waiting list .Value add property- Rents can go higher if wanted. Rubs system can also be implemented for utilities. This gem of a complex wont last long.
PROPERTY FACTS
| Price | $3,850,000 |
| Price Per Unit | $56,618 |
| Sale Type | Investment |
| Cap Rate | 8.65% |
| No. Units | 68 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.27 AC |
| Building Size | 38,694 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1976/2022 |
| Parking Ratio | 3.49/1,000 SF |
| Zoning | RM-H |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Heating
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Dining Room
- Freezer
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Property Manager on Site
- Maintenance on site
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 60 | $700.00 | 444 - 571 |
| 2+1 | 8 | $800.00 | 804 |
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PROPERTY TAXES
| Parcel Number | 264423-000-002800-00000 | Improvements Assessment | $3,198,590 |
| Land Assessment | $31,432 | Total Assessment | $3,230,022 |
CONTACT
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Fabian Casta - Concord Manor Apartments
