TX distressed-$11K/door on purchase-Cash flow and Equity

he last time I had Units in TX - there were so many questions that it
sold before all could be answered. An LOI will certainly get you more
information, if needed.

Recent Capital Upgrades of Over $1,000,000
2 Story * 496 Units * 3 Pools * AmmenIties

Description:
• Recent renovations makes this an attractive investment property to buy and hold.
• This property is Cash Flowing and offers a great upside to increase revenue.
• The largest employer by sales are only 2 miles away from the apart complexes.
This property is being offered at a deeply discounted price ($12,867/unit) in comparison to its stabilized
value. The property is currently performing significantly below its comparable competition and a
new owner/management regime should have the ability to add value by bringing the property inline
within its submarket. The owner recently completed over $1,000,000 in capital upgrades to the
property including but not limited to all new exterior HardiPlank siding, re-striping of all parking lots,
resurfacing of 3 swimming pools, interior rehabs and balcony repair.
Its location is approximately 55 miles from a major city and accessible to a few
State Highways.
Real estate taxes based on 2009 tax assessed value of $6,778,170 and tax rate of 2.6432%


Building Size: 374,308 SF
Year Built: 1979
Lot Size: 24.02 AC
Units: 496
Price/Unit: $12,867.65
Property Type: Multifamily
Property Sub-type: Garden/Low-Rise
Property Use Type: Investment
Occupancy: 60%
CAP Rate: 12.72%
Building Class: B

Asking $6,500,000
This project needs quite a bit of work, so it is not for everyone.
However, price is very good., and potential is excellent*
I am direct to person who's got it optioned under contract.
Please be direct yourself - this will not work w/chains.

Original price: $6,500,000.
Our New price: $5,600,000.

CALL ME NOW , DONT WAIT OR HESITATE.
THIS WILL SELL FAST!!!!!!!!

Fernando Young
Hartford Investment Group
8.8.8.-317-4517x1

socalhartfordinvgrp@gmail.com