Offered "All Cash" Buyer to obtain new financing - OPEN HOUSE DATE - WEDNESDAY, MARCH-21st-2018 - 10:00 A.M. TO 2:00 P. M. - R.S.V.P. 713.783.6262
Casa Roble Apartments is a 1956 built, 14 Unit, 100% occupied "C+" apartment community in an improving "B- " area inside loop 610 of east Houston. It is individually metered for electricity and gas. It is located in an area inside Loop 610 East where there is low apartment density, a very dense population and where gentrification is taking place. In addition, it is located in a sub-market that has historically stable and higher occupancies than the Houston market as a whole. The property's location allows for easy access to I-45, Loop 610 E, Hwy 90, Tx-22 and Tx-288, Telephone Road and the MetroRail (Green Line). The property offers investors an attractive, well-positioned asset inside Loop 610 within a middle class subdivision. This area has become a densely populated area with an ethnically diverse population and as with any neighborhood inside Loop 610 of downtown Houston, there is talk of redeveloping and revitalizing the area.
Property Information - The community spans .24 acres and consists of 14 units in 2 buildings. The property has pitched roofs with a brick and Hardi-Plank exterior. The property has covered parking for its tenants. There seems to be upside in the rents with continued interior and exterior upgrades. There is a partial RUBS for water in place, which could be an additional source of income for a new owner if a full RUBS for Water was implemented. In addition the property is individually metered for Gas and Electricity. However the current owner gives the tenants a credit of $32 / mth for gas. A new Owner could do away with this practice and have the tenants pay their whole gas bill.
Unit Features - All 14 units are 610 square foot, one and two bedroom with one bath units. They include tile and carpet flooring, individual controlled windowe A/C and Heat units.
Location - The property has a good location which puts it within a 5 mile commute of many of Houston's major employment areas such as; Downtown Houston 3.5 miles - Texas Medical Center 4.5 miles, I-45 business corridor .3 miles, University of Houston Downtown 1.2 miles, Loop 610 Corridor 1 mile, Port of Houston 2.9 miles and EaDo 1.7 miles and the Toyota Center 3.9 miles and many others. The location also has good access to Houston's mass transit system, it is 1 mile from the MetroRail (Green Line).