Misty Ridge
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Misty Ridge
2 Unit Apartment Building $515,000 ($257,500/Unit) 5.22% Cap Rate Converse, TX 78109
Investment Highlights
- Granite Kitchen and Bathroom Countertops, Luxury Vinyl Planking w/ Carpeted Bedrooms, Ceiling Fans through-out, Garage Door Motors and Much More!
Executive Summary
SELLER CONCESSIONS!
Interest rate guarantee of 4.75%. Seller to cover all costs associated with the interest rate buy down program.
Interest rate guarantee of 4.75%. Seller to cover all costs associated with the interest rate buy down program.
Financial Summary (Pro forma - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $515,000 | Apartment Style | Low Rise |
| Price Per Unit | $257,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 5.22% | Building Size | 29,400 SF |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 0.07/1,000 SF |
| Price | $515,000 |
| Price Per Unit | $257,500 |
| Sale Type | Investment |
| Cap Rate | 5.22% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 29,400 SF |
| No. Stories | 2 |
| Year Built | 2024 |
| Parking Ratio | 0.07/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 2 | $1,650 | 1,225 |
1 of 1
zoning
| Zoning Code | Multi-family |
| Multi-family |
-
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