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Writer's picturePromise Land Realty

Buy&Hold (MULTIFAMILY): (220 Units) 925 Northwood St, Baytown, TX 77521 + $20,250,000

Multifamily Investment Opportunity








Price

$20,250,000


Off-Market Listing: AVALON BAY APARTMENTS + 925 Northwood Street, Baytown, TX 77521


Asking Price: $20,250,000


Property Overview:


Introducing Avalon Bay Apartments, a premier 220-unit multifamily community located in the thriving Baytown, TX area. This property presents a fantastic investment opportunity with significant capital improvements recently completed. Please review the detailed capex completed and attached financials for an in-depth understanding of the property's current and potential performance.



Recent Capital Improvements:

  • Complete Roof Replacement: All 28 roofs have been replaced, totaling $390,000.

  • Concrete Pothole Repairs: Addressed for $7,500.

  • Pools: Two pools replastered for $21,000; a third pool has been converted into a park area with sun shades for $14,000.

  • Entrance Gates: Vehicle and pedestrian gate repair and replacement for $5,500.

  • Exterior Painting: All buildings have been repainted for $148,000.

  • Dumpster Enclosures: Rebuilt for $1,500.

  • Signage: Monument signage replaced and rebranded, including new property and common area signage for $7,800.

  • Unit Upgrades: 10% of units have been upgraded from classic to fresh, modern standards at $3,500 per unit (totaling $77,000).


Property Highlights:

  • Location: Situated at 925 Northwood Street, Baytown, TX 77521, the property benefits from proximity to local amenities, schools, and major highways.

  • Amenities: Features include two fully upgraded pools, a newly created park area, secure gated access for both vehicles and pedestrians, and modernized common areas.

  • Rebranding: Fresh new look with updated exterior paint and new signage that enhances curb appeal and resident experience.


Financial Overview:

The property has recently undergone a system conversion in April, and April/May financial numbers are still being finalized. These figures are expected to show an increase compared to the attached financials, reflecting the positive impact of the recent improvements.


Investment Opportunity:

Avalon Bay Apartments is poised for increased rental income and occupancy rates due to the extensive renovations and upgrades. This is an ideal opportunity for investors looking to acquire a well-maintained and updated multifamily property with strong potential for growth.


Contact Information:

For more details, financials, or to schedule a tour, please contact us at investments@promiselandrealtyllc.com. Don't miss out on this exceptional investment opportunity in Baytown, TX.


Property Map


Aerial Map



"AMERICA'S #1 SOURCE FOR OFF MARKET PROPERTIES"




PROMISE LAND REALTY, LLC

Work: 864-762-2509


All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top.

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