New Pricing - 40 Unit Apartment Complex 90% Occupancy

40 Unit Apartment Complex

Contact Details Below

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Unit Count:

24- 1 Bedroom/1 Bath - 590 square feet

10- 2 Bedroom/1 Bath - 720 square feet

6 - 3 Bedroom/1 Bath - 940 sqaure feet

Lot Sq Ft: 196,456 (4.5 acres)

Built: 1982

4 units have been remodeled with granite countertops, shaker cabinets, brand new appliances, waterproof vinyl plank flooring, new tile in the bathroom, and brand new HVAC systems. Several of the current tenants are ready to upgrade their living quarters and move into these upgraded units at market rent prices.

The units that haven't been upgraded yet are still very clean. The tenants take good care of their property. Cabinets are in good shape, school tile floors throughout with a small carpeted area in the living room.

Tenant demographics: older individuals and most are on disability. Guaranteed check every month

✅

Brand new washer and dryers have increased additional income of $200+ per month

⬆️ The sellers had the ideas to finish this area into a club house to include a kitchen and entertainment area for tenants and guests. They also wanted to expand the laundry space for more washers and dryers.

⬅️The intention was to tear down the storage unit and put in a basketball court since the concrete slab is already in place.

198 Tupelo St

Pittsburg, TX 75686

Price: $2,299,000

OBO

This amazing 1980s build will be the perfect addition to your portfolio. Currently at 90% occupancy rate with a waiting list. Solid foundation and several new HVAC systems. There are 4 units that have been remodeled. Immediate cash flow the moment you take over. Onsite coin operated laundry room with brand new washer and dryers. Playground and picnic area for attractiveness to families. Plenty of parking.

Up and coming property within the city limits.

Financials and survey available.

$420K Owner Financing at 8.5% for 10 years is available

Increase rent by $75 per unit when you take over and utility bill back to see immediate return without any rehab costs!

Market Rent

3/1-$950+

2/1-$850+

1/1-$750+

Full occupancy

$32,220/month

$386,640/year

Increase Current Rent

3/1-$825

2/1-$725

1/1-$625

Full occupancy (without any work)

$27,200/month

$326,400/year

Unit	Size	Current Rent
1 upgraded unit	3/1	$900
2	3/1	$750
3	3/1	$750
4	3/1	$750
5	3/1	$750
6	3/1	$625
7 upgraded unit	1/1	$-
8	1/1	$550
9	1/1	$550
10	1/1	$550
11	1/1	$550
12	1/1	$550
13	1/1	$550
14	1/1	$550
15	1/1	$550
16 upgraded unit	1/1	$700
17	1/1	$550
18	1/1	$550
19	1/1	$550
20	1/1	$550

21	1/1	$550
22	1/1	$550
23	1/1	$550
24	1/1	$550
25	1/1	$-
26upgraded unit	1/1	$700
27	1/1	$425
28	1/1	$550
29	1/1	$550
30	1/1	$319
31	2/1	$650
32	2/1	$650
33	2/1	$650
34	2/1	$650
35	2/1	$-
36	2/1	$650
37	2/1	$650
38	2/1	$650
39	2/1	$650
40	2/1	$650
		$22,419

Property is being sold as-is, cash or hard money buyers only, buyer pays standard closing costs. Buyer to inspect the property and perform all due diligence. A $15,000 deposit and signed contract is needed to secure the property.

Title has been opened and will not be moved.

Memo has been filed for our protection.

Call/text/email us immediately to secure your opportunity in this investment.

Allix Eckermann

General Manager

254-493-6540

allix@investorade.com

Maria Peinado

Dispositions Manager

214-278-4919

maria@investorade.com

Erik Malagon

Dispositions Manager

214-764-3550

erik@investorade.com

"When investors win, we win."

Blake DeWitt, CEO

Investorade, LLC is selling an option or assigning an interest in a contract and does not represent, warrant or claim to be the owner of or currently possess legal title to any of the properties we market for sale. All properties subject to errors, omissions, deletions, additions, cancellation. All properties sold as is, where is with absolutely no representations written or oral. Buyer is to do their own independent due diligence. Property will not be considered under contract until signed contract and deposit received with all contingencies removed. Investorade, LLC is a real estate investment firm and does not claim to be licensed real estate brokers or agents.