Description:
INVESTMENT INFORMATION:
1) The Crossings at 31st Street Apartmentsis a two-story, garden style apartment community located in Texas City, Texas in the Galveston/Dickinson sub-market south of Houston,Texas. The property was extensively rehabbed in 2017. Some amenities include patios and balconies, dishwashers, ranges and refrigerators, large walk-in closets, ceiling fans, hardwood flooring, washer/dryer (in select units), a swimming pool and a playground. The property is an "All Bills Paid" property. The property features a central location that gives convenientaccess to the major business centers.
2) GOOD LOCATION IN THE DICKINSON/GALVESTON SUBMARKET - Conveniently located minutes from Galveston Beach, Kemah, Clear Lake Resort Area, Galveston Bay and the Johnson Space Center (NASA). Convenient access to major highways such as FM 1764 and Hwy 146 (Emmett F Lowry Expy and IH-45. Public Bus Stop approximately 344' southwest of the property. Walgreens, CVS, various eateries, Robinson Park, Texas City Dog Park, HCA Houston ER, Sprots Complex, Banks, Gyms, Aldi, HEB, Kroger, AMF Star Lanes, Texas City Fire Department, Lowes, USPS are all under a mile from the property. Texas City Industrial Complex and the Texas City Police Departnebt are less than 2 miles of the property, Texas City Police Department.
3) Rent and Occupancy Growth - The population growth in Texas cities has been steady, this trend should continue due to a lower cost of living and lower taxes. Texas has seen the highest influx of out-of-staters than any other state in the US. In addition, corporate move-ins are on the rise as well. Apartment demand skyrocked in 2021 on the heels of a housing market that boxed out many buyers. Rents rose, occupancy rates shot up to 97% for market-rate apartments, and institutional capital poured into rentals. This should sustain rent growth in major Texas cities well into the future. Experts predict 2022 will yield handsome payouts for landlords.