1500 S 3rd St
10 Unit Apartment Building $1,300,000 ($130,000/Unit) Conroe, TX 77301
INVESTMENT HIGHLIGHTS
- 10 Spacious Units – 2 bedrooms, 1 bathroom
- Strong Rental Income – High occupancy rates
- Ample Parking – Spaces for tenant convenience
- Prime Location – Conveniently situated near schools, shopping, dining, and major transportation routes
- Well-Maintained – Minimal deferred maintenance, making this property move-in ready for tenants
EXECUTIVE SUMMARY
This turnkey investment offers a hassle-free opportunity with steady cash flow. Each +/-800 sqft unit is individually metered and features 2 bedrooms, 1 bathroom, a kitchen, and a living room. The property includes ample parking and a large backyard with a park-like setting, providing potential for additional development to further increase income. Exterior features include a storage unit and a trash container. Long-term tenants with leases already in place ensure stable revenue. Ideally located near The Woodlands and Conroe, this property is an excellent addition to any investment portfolio. Don’t miss out on this high-performing asset. Recent upgrades include laminate flooring, granite countertops, black appliances, fresh paint, washer/dryer hookups, new water heaters, HVAC systems, and furnaces. The roof was replaced in 2018.
PROPERTY FACTS
| Price | $1,300,000 |
| Price Per Unit | $130,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.75 AC |
| Building Size | 9,606 SF |
| No. Stories | 2 |
| Year Built | 1984 |
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 10 | - | 800 |
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PROPERTY TAXES
| Parcel Number | 0806-00-00109 | Improvements Assessment | $315,091 |
| Land Assessment | $34,909 | Total Assessment | $350,000 |
