Apartments

44422 & 44426 Highway 290 Business and 512 & 516 Hollyhock Drive, Prairie View, Texas 77446

  • 1.65 Acres
  • Multifamily-Apartment
  • For Sale

Summary Description

Strategically located within 1 mile of the Prairie View A&M University campus, enabling the capture of that captive rental market along with serving the surrounding community as these units are Not Restricted to Prairie View Students only.

Building Size: 21,600 Acres

Area Available: 1.65 Acres

Market:

Far NW Outlier; Prairie View

Indicated Cap Rate

±8.4%

2016 Annualized NOI:

±$209,727

Asking Price:

$2,499,000

Features:

  • Located less than one mile to Prairie View A&M campus
  • The Hollyhock Units were constructed in 2001 & the Hwy 290 Bus Units were constructed in 2004.
  • Exterior material is painted Hardiplank siding.
  • Foundations are concrete slabs.
  • Doors: Exterior are metal and Interior are wood.
  • Windows are extruded aluminum frame punch with laminated glass.
  • Roof Systems are pitched with composite shingles with gutters & downspouts.
  • Building Descriptions:Four buildings, each compromised of 8 Units for a total of 32 Units, 64 bedrooms. Each Furnished Unit is ±675 SF for a total of ±21,600 SF.
  • Land Size:± 1.65 Acres Total, compromised of 4 Lots each being 90'x200'.
  • Parking:64 Reserved Spaces and 24 Visitor spaces, divided equally for each Complex.
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