501 Dahila St
Prairie View, TX 77446
Multifamily Property For Sale · 15 Units

There are a total of 15 units comprising this three-property portfolio in Prairie View, TX: 511 Dahlia, 201 Pine St, and 125 Pine. They depict the ultimate in quality construction for off-campus student housing in Prairie View, TX. With a 10% cap rate, a GRM of 7.29, and an annual NOI of $102,748.00, the seller is motivated to unload the entire portfolio at $1,000,000.00, a steal for student housing investing of this caliber. The units are located within a mile of the university. Each of the bedrooms can accommodate a full suite of furniture and has a private bathroom within the suite. The Dahlia Street property was completed and released for occupancy in September 2018. The Pine Street properties were completed in 2005. Each was built to minimize maintenance and maximize an environment for successfully completing a course of study at PVAMU. Sporting laminated flooring in the bedrooms, tiled floors in the wet areas, a private laundry room in each house, and custom cabinets with granite tops and tiled backsplashes sitting atop ceramic tiled floors in the kitchens, these units stay 100% occupied from semester to semester because of the affordable rent and quality construction of each property. Affordably priced, these units collectively yield a 10% cap rate, with ample room to raise the rent and keep the units still affordable. The serious investor must take a close look at this portfolio. It is perfect for any 1031 exchange. Additionally, the Dahlia Street property sits on 1/2 acre and has enough land that can be used to add another housing unit comparable to the existing unit, which will yield another 7 to 10 units. Thus, this complex can grow to 17 units. Seller is the builder and will include the plans and specs for additional housing in the deal. See the photos of Dahlia's rear to get a visual of the land size.