Forest Palm Apartments | 815 Autumnwood Dr
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Forest Palm Apartments 815 Autumnwood Dr
119 Unit Apartment Building For Sale Houston, TX 77013
Investment Highlights
- A turnkey cash-flowing asset that would be a fantastic addition to any portfolio
- Investors can enjoy cash flow from day 1 with the property currently netting over $25,000/month after debt service
- Extremely favorable assumable loan at just 3.79% that is fixed into 2027
Executive Summary
Marcus & Millichap is pleased to present this meticulously maintained 119-unit apartment complex, originally built in 1974, rebuilt in 2012, and renovated in 2018, the property boasts favorable financing through assumption and is located at 815 Autumnwood Dr in Houston, Texas.
The complex is comprised of 73 one-bedroom units / 41 two-bedroom units / 2 three-bedroom units / 2 efficiency units and 1 four-bedroom unit. Property amenities include on-site management, a leasing office, laundry facilities, reserved parking, and a park and playground for tenants' use.
Since its reconstruction, the property has been exceptionally well-kept and consistently boasts high occupancy, all while operating at a very efficient rate.
This investment opportunity offers immediate cash flow, with the potential to increase rents and explore expansion possibilities with the included 2.5 acres of vacant land, providing investors with both stability and growth potential.
The complex is comprised of 73 one-bedroom units / 41 two-bedroom units / 2 three-bedroom units / 2 efficiency units and 1 four-bedroom unit. Property amenities include on-site management, a leasing office, laundry facilities, reserved parking, and a park and playground for tenants' use.
Since its reconstruction, the property has been exceptionally well-kept and consistently boasts high occupancy, all while operating at a very efficient rate.
This investment opportunity offers immediate cash flow, with the potential to increase rents and explore expansion possibilities with the included 2.5 acres of vacant land, providing investors with both stability and growth potential.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Property Facts Under Contract
| Sale Type | Investment | Lot Size | 2.75 AC |
| No. Units | 119 | Building Size | 83,938 SF |
| Property Type | Multifamily | Average Occupancy | 99% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1974/2018 |
| Building Class | C | Parking Ratio | 1.42/1,000 SF |
| Sale Type | Investment |
| No. Units | 119 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.75 AC |
| Building Size | 83,938 SF |
| Average Occupancy | 99% |
| No. Stories | 2 |
| Year Built/Renovated | 1974/2018 |
| Parking Ratio | 1.42/1,000 SF |
Unit Amenities
- Air Conditioning
- Granite Countertops
- Wheelchair Accessible (Rooms)
Site Amenities
- Clubhouse
- Laundry Facilities
- Playground
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 77 | - | 673 |
| 2+1 | 42 | - | 789 |
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PROPERTY TAXES
| Parcel Number | 1153540000003 | Improvements Assessment | $7,667,766 |
| Land Assessment | $239,410 | Total Assessment | $7,907,176 |
PROPERTY TAXES
Parcel Number
1153540000003
Land Assessment
$239,410
Improvements Assessment
$7,667,766
Total Assessment
$7,907,176
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Forest Palm Apartments | 815 Autumnwood Dr
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