14-Unit Apartment Complex Sale
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Cameron, US
The apartment complex consists of two
single story buildings and a total 14
units. Breakdown is listed on the right.
Building-1 to the right houses 10 One Bedroom units
and smaller building-2 to the left,
housing 4 Two Bedroom units
Feature Highlights
- Waterfront
General Features
- List Date:
- 10/12/2023
- Foundation Type:
- slab
Public Schools
- School District:
- Rio Hondo
- Elementary School:
- Rio Hondo
- Middle School:
- Rio Hondo
- Jr High School:
- Rio Hondo
- High School:
- Rio Hondo
Full Description
We are pleased to present 110 S. Arroyo Blvd in Rio Hondo TX. This is a 14-unit apartment complex that is a perfect value-add opportunity for the right buyer. Most of the units have not been updated, this will allow the new buyer to update and bring all units to market rents. The current owner has successfully increased NOI by 30% since purchase almost three years ago. But further NOI increase is only possible with updates to the units. Please note:
1. The property requires many updates and repairs. Some units may not be rented unless repairs are done. The property is being sold as-is with no repairs of any kind to be done by the seller prior to sale.
2. Seller will give priority to all-cash offers with no contingencies with proof of funds.
3. Seller will give priority to any offer with a large earnest money deposit.
3. If you are planning on getting financing, ensure your lender/bank is aware of the condition of the property. Otherwise, you will need access to a private bridge/hard money loan to close. There will be no 'subject to buyer getting financing' contingency accepted.
Serious inquiries will be sent a detailed OM which provides financials that includes income, expenses and P&L.
Bring in offers, motivated Seller!
Seller financing available!
Directions
Take N. Sam Houston to Rio Hondo, Turn left at E. Colorado St, continue to the last st before crossing the bridge and turn left at S. Arroyo Blvd. The property is on the right.
