Multifamily Investment Opportunity
Price:
$5,750,000
Exclusive Investment Opportunity: 60-Unit Apartment Complex at 7525 Hillcroft St, Houston, TX 77081 – High Value-Add Potential with Assumable Note
Promiseland Realty proudly presents an exclusive investment opportunity in the heart of Southwest Houston: a 60-unit apartment complex located at 7525 Hillcroft St, Houston, TX 77081. This off-market gem stands as a beacon for investors eager to delve into the thriving Houston real estate market, offering a strategic investment pathway with substantial value-add potential and the prospect of enhanced returns through strategic rent adjustments.
Property Highlights:
Address:Â 7525 Hillcroft St, Houston, TX 77081
Total Units:Â 60 (39 one-bedroom, one-bathroom units & 21 two-bedroom, two-bathroom units)
Land Area:Â 81,568 sq ft
Building Area:Â 51,440 sq ft
Vacancies:Â 4 units, presenting an immediate opportunity for value increase through occupancy
Condition:Â The majority of units are recently refurbished; however, select units require updates, especially those leased to long-term tenants. Estimated repair costs range between $35,000 - $60,000.
Amenities Upgrade:Â A new laundry facility is under construction, equipped with 5 washers and 4 dryers, owned by the complex, promising to enhance tenant convenience and generate additional income.
Security:Â The complex ensures tenant safety with gated parking and a secure front entry system.
Property Financials:
Property Photos:
Gain insights into the property’s potential and explore its features through a visual tour by visiting the following link: View Property Photos. These images offer a glimpse into the current state of the complex and highlight the tangible opportunities for value addition.
Financial Highlights:
Asking Price:Â $5,750,000
Loan Details:Â Beneficial assumable note at 4.16% interest, with a $3.3 million balance, maturing in 2026. This financing feature is a significant attraction, offering favorable debt terms to the new owner.
Value-Add Opportunity:Â With the majority of units already upgraded, the investment appeal lies in the potential to increase rental income. This can be achieved by completing the ongoing enhancements and adjusting rents, particularly for units with longer-term leases.
Investment Appeal:
Situated at a prime location in Southwest Houston, this property represents a significant acquisition opportunity. Strategic updates and effective management can unlock remarkable value, maximizing investor ROI. The attractiveness of this investment is further amplified by the existing assumable loan, which presents an efficient financing option.
Requirements:
Proof of Funds (POF) or pre-approval is required for further disclosure and details, underscoring our commitment to engaging with serious inquiries only.
Submission:
For comprehensive details and to forward offers, please directly contact investments@promiselandrealtyllc.com. We invite your interest and are dedicated to facilitating a seamless acquisition process for this exceptional investment opportunity.
Property Map
"YOUR #1 SOURCE FOR OFF MARKET INVESTMENT PROPERTIES, NATIONWIDE"
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