8330 Carvel Ln 76 Unit Apartment Building $7,950,000 ($104,605/Unit) 7% Cap Rate Houston, TX 77036
INVESTMENT HIGHLIGHTS
- 8330 Carvel Lane is home to a beautiful 76-unit apartment complex with an outdoor community pool and playground.
- The apartment complex is near multiple public transit stops and is clean, well-maintained, and offers modern amenities throughout.
- Inquire today to attend the open house on Saturday, March 8th from 1 - 3 pm.
- In an ideal location among the heart of Houston in the Sharpstown neighborhood with restaurants, shops, hospitals, and more nearby.
- Investor upside via room-for-rent increases currently being 15% below market rate with recent on-site renovations.
EXECUTIVE SUMMARY
*** PLEASE JOIN OUR OPEN HOUSE MAY 31ST, 2PM - 3PM***
8330 Carvel Lane's 76-unit multifamily complex property is in excellent shape, especially with the exterior and interior having been recently renovated. Sharpstown is a scenic Houston suburb with a waiting line for units here; there is also a general lack of inventory in SharpTown, enabling this sale to be high-priority with stabilized income and expenses. The location is excellent, being next to three public schools, a local temple, and a catholic church. Parking is not an issue with covered and uncovered parking on site. Residents enjoy the close proximity to the surrounding metro's popular points of interest, such as being two minutes from Bellaire Food Street.
Inquire today for more information and attend the upcoming open house. We do require potential buyers to complete an NDA process; however, CapEX will be provided in a complete POST NDA. The buyer is looking to have an all-cash closing; there is no assumable loan term.
8330 Carvel Lane's 76-unit multifamily complex property is in excellent shape, especially with the exterior and interior having been recently renovated. Sharpstown is a scenic Houston suburb with a waiting line for units here; there is also a general lack of inventory in SharpTown, enabling this sale to be high-priority with stabilized income and expenses. The location is excellent, being next to three public schools, a local temple, and a catholic church. Parking is not an issue with covered and uncovered parking on site. Residents enjoy the close proximity to the surrounding metro's popular points of interest, such as being two minutes from Bellaire Food Street.
Inquire today for more information and attend the upcoming open house. We do require potential buyers to complete an NDA process; however, CapEX will be provided in a complete POST NDA. The buyer is looking to have an all-cash closing; there is no assumable loan term.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $7,950,000 |
| Price Per Unit | $104,605 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 76 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.27 AC |
| Building Size | 71,620 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1971 |
| Parking Ratio | 1.54/1,000 SF |
| Zoning | N/Ap, Houston - no zoning |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Tile Floors
- Kitchen
- Refrigerator
- Oven
SITE AMENITIES
- 24 Hour Access
- Playground
- Pool
- Property Manager on Site
- Gated
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 725 |
| 2+1 | 16 | - | 955 |
| 2+1.5 | 28 | - | 980 |
| 3+2 | 12 | - | 1,200 |
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PROPERTY TAXES
| Parcel Number | 0933340000003 | Improvements Assessment | $5,786,955 |
| Land Assessment | $445,023 | Total Assessment | $6,231,978 |
CONTACTS
-
Thé Trinh Nguyen -
Ly Mai -
The Realty TX
