Las Plazas 3940 S Shaver St
80 Unit Apartment Building For Sale Houston, TX 77034
INVESTMENT HIGHLIGHTS
- Property is available on assumption at 3.4%; all cash or new loan
- The property has been renovated
- Located in the highly rated Pasadena ISD
- Ideal for long-term hold
- New Roof replaced 2025
EXECUTIVE SUMMARY
Las Plazas Apartments boast a prime location with easy access to Interstates 45 and 610, offering convenient travel throughout the state. Just minutes away from top dining, shopping, and entertainment, the property is also located within the highly regarded Pasadena Independent School District.
The community offers five spacious floor plans, including one, two, and three-bedroom units. Residents enjoy features like private balconies or patios, ceiling fans, air conditioning and heating, and ceramic tile flooring. Pet-friendly, Las Plazas also includes a dedicated bark park. Additional amenities include gated access, on-site and on-call maintenance, and an on-site laundry facility.
Between 2016 and 2019, the property underwent significant renovations and repairs. A new roof is set to be installed in 2025. This property is available for purchase via loan assumption, cash purchase, or a new loan, with approximately five years remaining on a Fannie Mae loan at a 3.35% interest rate, which can be transferred to the buyer. The total outstanding debt is approximately $3.2 million.
The community offers five spacious floor plans, including one, two, and three-bedroom units. Residents enjoy features like private balconies or patios, ceiling fans, air conditioning and heating, and ceramic tile flooring. Pet-friendly, Las Plazas also includes a dedicated bark park. Additional amenities include gated access, on-site and on-call maintenance, and an on-site laundry facility.
Between 2016 and 2019, the property underwent significant renovations and repairs. A new roof is set to be installed in 2025. This property is available for purchase via loan assumption, cash purchase, or a new loan, with approximately five years remaining on a Fannie Mae loan at a 3.35% interest rate, which can be transferred to the buyer. The total outstanding debt is approximately $3.2 million.
PROPERTY FACTS
| Sale Type | Investment |
| No. Units | 80 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.40 AC |
| Building Size | 65,736 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 2.3/1,000 SF |
UNIT AMENITIES
- Balcony
- Cable Ready
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 44 | - | 580 - 620 |
| 2+1 | 32 | - | 750 - 925 |
| 3+1 | 2 | - | 1,200 |
| 3+1.5 | 2 | - | 1,200 |
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 0432170000033 | Improvements Assessment | $4,293,789 |
| Land Assessment | $418,524 | Total Assessment | $4,712,313 |
ZONING
| Zoning Code | None |
