Pick up 39 condos out of a 95 unit condo/apartment complex for 50% of income value ($1.5M) and 66% of UPB ($1.136M). These 39 units are made up of 35 2/2's and 4 3/2's. Conveniently located near Beltway 8 and 249. Five minutes to Willowbrook Shopping center. Management on site. Pool in complex. Complex has limited access gates. Complex is running at 95% occupancy with rent rates at $650 for the 2 bedrooms and at 800 for the 3 bedrooms. We do not have complete financials as this is NOTE SALE, but we have put together a pro forma based on rent rates and a 90% occupancy and a 45% expense ratio (as each unit is individually metered) which gives a Proforma NOI of $154K. Buy the note, foreclose, get a deed in lieu, or perform a loan modification. Contact Amber Gunn at 512-922-4866 or Scot
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