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The Berkshire 8600 Theta St 227 Unit Apartment Building For Sale Houston, TX 77034
INVESTMENT HIGHLIGHTS
- ? Available on Assumption Only (loan lockout)
- ? Opportunity to Grow Rents and Reduce Water/Sewer Bills!
- ? Excellent Access to I-45
- ? Excellent Location In The Beltway 8/I-45 South Submarket Of SE Houston
- ? Great Area Job Base!
- ? Close Proximity to Hobby Airport
EXECUTIVE SUMMARY
The Berkshire is a multifamily community offering one, two, and three bedroom apartment homes. Constructed in 1971, and located in Beltway 8/I-45 South submarket of SE Houston, the apartment homes feature in-unit washers and dryers (for 2 bedroom units only), private patios and balconies.
The proximity to Beltway 8 and I45 South allows easy access to every major submarket with all of the employment, recreational and retail opportunities the city has to offer. Public schools are Garfield Elementary (next door), Miller Middle School, and Memorial High School, all part of the Pasadena ISD.
Per owner, all roofs have been replaced within the past 15 years and the entire property was painted in 2020. The interiors have classic cabinet fronts, Formica counter tops (some updated) and a mixture of carpet and either wood flooring or faux wood flooring. Approximately 65% of the units were updated lightly at a cost of $500 per unit and they get a $35 to $50 per month increase. There is clear upside in continuing an interior rehab! See CapEx Summary and Roof Replacement Schedule.
Water savings devices and other "Green Energy" items have been implemented. However, recently the water usage has grown, and the Owner plans to audit all units and systems for leaks. The manager has no knowledge of any flooding at the property.
The proximity to Beltway 8 and I45 South allows easy access to every major submarket with all of the employment, recreational and retail opportunities the city has to offer. Public schools are Garfield Elementary (next door), Miller Middle School, and Memorial High School, all part of the Pasadena ISD.
Per owner, all roofs have been replaced within the past 15 years and the entire property was painted in 2020. The interiors have classic cabinet fronts, Formica counter tops (some updated) and a mixture of carpet and either wood flooring or faux wood flooring. Approximately 65% of the units were updated lightly at a cost of $500 per unit and they get a $35 to $50 per month increase. There is clear upside in continuing an interior rehab! See CapEx Summary and Roof Replacement Schedule.
Water savings devices and other "Green Energy" items have been implemented. However, recently the water usage has grown, and the Owner plans to audit all units and systems for leaks. The manager has no knowledge of any flooding at the property.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 9.40 AC |
| No. Units | 227 | Building Size | 177,010 SF |
| Property Type | Multifamily | Average Occupancy | 92% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1971 |
| Building Class | B | ||
| Zoning | N/Ap, County | ||
| Sale Type | Investment |
| No. Units | 227 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 9.40 AC |
| Building Size | 177,010 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1971 |
| Zoning | N/Ap, County |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Views
- Walk-In Closets
- Carpet
- Dining Room
- Window Coverings
SITE AMENITIES
- Controlled Access
- Clubhouse
- Laundry Facilities
- Picnic Area
- Playground
- Pool
- Property Manager on Site
- Gated
- Grill
- Package Service
- Maintenance on site
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PROPERTY TAXES
| Parcel Number | 0881190000024 | Improvements Assessment | $10,749,786 |
| Land Assessment | $3,275,360 | Total Assessment | $14,025,146 |
PROPERTY TAXES
Parcel Number
0881190000024
Land Assessment
$3,275,360
Improvements Assessment
$10,749,786
Total Assessment
$14,025,146
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The Berkshire | 8600 Theta St
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