MONACO VILLAS

Address:
460 E. Hwy 332, Lake Jackson, TX 77566
Price:

NO OFFICIAL ASKING PRICE - GOOD UPSIDE WITH STABILIZATION

Price / Unit:
No official asking Price
Price / Square Foot:
N/A
Number of Units:
160
Avg Sq. Ft. / Unit:
783
Class:
C
Type:
2 STORY GARDEN STYLE APTS
Broker / Agent:

Description:

The Monaco Villas is an excellent opportunity for an investor to purchase a class "C+" apartment community consisting of 160 units in Lake Jackson, Texas. The Lake Jackson area is home to the largest chemical complex in the world.  The current owner has expended approximately 2 million in interior and exterior upgrades in the last 3 years which includes all new roofs in March of this year.  Additional interior and exterior improvements could bring upside to a new owner. Lake Jackson is the preferred city to live in for employees working at the industrial complex in the area.

The updated apartment homes include wood cabinets, resurfaced countertops, wood-style vinyl flooring, carpet in the bedrooms, two tone painted walls, updated light fixtures and hardware.  Premium amenities located throughout the common area include an outdoor lounge area and grilling stations, a stand-alone clubhouse with leasing center and entertainment lounge.

The property is individually metered for electricity and there is a Flat Fee Charged back to the tenants for Water, Gas, Trash and Pest Control, which is in addition to the rent shown on the right. 

Please do not visit the property without and appointment made through the broker!

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