This value-add property located in the thriving College Station metro market. All units have undergone capital improvements with new roof, HVAC, appliances, flooring etc. The property is available because current owners are looking to re-invest capital. This prime investment consists of 24 two bedroom/one bathroom units all 750+ sq/ft each. Seller is willing to sell 1 or all 6 of the 4-plexes depending on what you as the buyer want. There’s plenty of parking and each unit has its own laundry unit. The property includes 6 buildings, all 4-plex’s with a total size of 18,936 sq/ft and 1.3 acres (57,000 sq/ft lot). New ownership can immediately raise rents which have been below market for years and are prime for an instant value-add opportunity. With this increase new ownership can achieve a gross rent of $216,000 and an annual NOI of $175,000. Additionally, there’s the opportunity to implement additional income through lease violations, parking fees, etc. The landlord is in discussion with a state funded organization that could rent all the units. The property also has vacant land that could be an additional development opportunity. The property is 2.5 miles from Texas A&M which has over 70,000 students and a large employment hub. You can't get much closer to Texas A&M Campus unless you live in the dorms. 1 block from the apartments is the newly constructed 150-acre Midtown Bryan Park. One of the highlights of this park is the $40 million, 125,000 sq/ft, multi-purpose Legends Event Center. This makes this property an exceptional location for future appreciation. 70% of people living in the 77801 zip code in Bryan TX are renters. It has a public transit score of 88 and an area well-known for excellent transportation for nurses, students, etc. Strategically located just blocks away from Wellborn Rd, and N Harvey Mitchell PKWY, both of which run directly to Texas A&M. 77801 Zip code is located in the Central time zone at 31 degrees latitude (Fun Fact: this is the same latitude as Shanghai, China). It has an average elevation of 340 feet above sea level. Bryan TX is located between Houston, Austin, San Antonio, Dallas, and Ft. Worth; each metro is growing closer to Bryan TX daily. This allows the city to serve as a regional economic hub for these power economies. The Houston to Dallas bullet train’s only stop will be in College Station and offers a bus service direct to Texas A&M. The train is expected to save 81.5 million gallons of gas per day according to a recently-published Dallas Tribune story. With a population of over 250,000 it has recently been rated as one of the fastest growing metros in the United States. The Bryan/College Station metro has experienced incredible rent demand with the strong economic and population growth the last 5 years. Rents in this market are projected to continue growing for years to come (Costar). It was just rated #1 place to live in Texas on a fixed income, #2 best small city for business and careers (Forbes). #3 US city for career opportunities. 11th fastest growing city in the US. Bryan independent school district is doing very well at the state level. Dr. Christie Whitbeck, Bryan ISD Superintendent, was awarded the CTAT Champion of the Year. Dr. Whitbeck won the award for collaborating with city and county leaders to seek out and purchase land, and an existing facility, to expand Bryan ISD. Kevin Ross, CTE Coordinator, was named Administrator of the Year, which recognizes administrative professionals at the state level. This neighborhood looks to be primed for investment opportunity for years to come. Do not drive by and disturb tenants.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
