300 W Henderson Rd | Angleton, TX 77515
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300 W Henderson Rd
Angleton, TX 77515
Country Lane Apartments · Multifamily Property For Sale · 80 Units
Investment Highlights
- Value Add Opportunity Post Improvements/Upgrades and further rent increases
- Each unit has individual electric hot water heaters, washer and dryer connections and ground level access.
- Located in an area with a large blue collar demographic. The property is 4.5 miles south of Lake Jackson.
- $1.1M in capital improvements were completed since January 2020 which includes the total replacement of all roofs in 2020.
- There are 80 covered parking spaces. There are additional open spaces.
Executive Summary
Country Lane - is being offered on an "All Cash" basis (Buyer to obtain new financing). The property is an 80 unit, "A-" grade, garden style apartment community. It is located in the Angleton area of the Houston MSA. This area has good accessibility to the business district along Hwy 288 and the Hwy 35 bypass (523). The property was built by the current owner and has been well taken care of. All of the roofs were replaced in 2020. The owner has expended $14,114/unit in CapEx since January 2020 thru Oct 2023. Each unit has washer and dryer connections and individual electric hot water heaters. Country Lane has a stand alone leasing office with a clubhouse that includes a kitchen as well as an exercise room for tenants' enjoyment. The property has 164 parking spaces of which 80 are covered spaces. The property is stabilized with upside in the rents.
Location - Angleton is approximately 30 miles south of Houston and a short 20 minute commute to Surfside Beach. Major Transportation arteries within minutes of the property are Hwy 288 and old Hwy 288, Hwy 35 Bypass, TX-35, TX-6, TX-36 and Beltway 8-Sam Houston Tollway.
Upside - It is the broker's opinion, that with minor interior upgrades the property could see upside in the rents. The owner implemented a rate increase October 2023, a new owner will continue to see the benefits of this increase upon new move-ins and renewals.
Location - Angleton is approximately 30 miles south of Houston and a short 20 minute commute to Surfside Beach. Major Transportation arteries within minutes of the property are Hwy 288 and old Hwy 288, Hwy 35 Bypass, TX-35, TX-6, TX-36 and Beltway 8-Sam Houston Tollway.
Upside - It is the broker's opinion, that with minor interior upgrades the property could see upside in the rents. The owner implemented a rate increase October 2023, a new owner will continue to see the benefits of this increase upon new move-ins and renewals.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 5.92 AC |
| No. Units | 80 | Building Size | 99,374 SF |
| Property Type | Multifamily | Average Occupancy | 97% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 2005 |
| Building Class | B | Parking Ratio | 1.01/1,000 SF |
| Sale Type | Investment |
| No. Units | 80 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 5.92 AC |
| Building Size | 99,374 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 2005 |
| Parking Ratio | 1.01/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Crown Molding
- Eat-in Kitchen
- Kitchen
- Vaulted Ceiling
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Range
- Walk-In Closets
- Den
- Dining Room
- Pantry
- Patio
- Recreation Room
- Wheelchair Accessible (Rooms)
Site Amenities
- Controlled Access
- Clubhouse
- Fitness Center
- Laundry Facilities
- Pool
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 48 | $1,080 | 788 |
| 2+2 | 32 | $1,310 | 1,094 |
PROPERTY TAXES
| Parcel Number | 1313-4000-131 | Improvements Assessment | $5,910,380 |
| Land Assessment | $1,089,620 | Total Assessment | $7,000,000 |
PROPERTY TAXES
Parcel Number
1313-4000-131
Land Assessment
$1,089,620
Improvements Assessment
$5,910,380
Total Assessment
$7,000,000
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