ARBOR PINES VILLAS

Address:
1904 E. Mulberry St, Angleton, TX 77515
Price:

NO OFFICIAL ASKING PRICE - GOOD UPSIDE WITH STABILIZATION

Price / Unit:
NO OFFICIAL ASKING PRICE
Price / Square Foot:
N/A
Number of Units:
140
Avg Sq. Ft. / Unit:
742
Class:
C+
Type:
2 STORY GARDEN STYLE APTS
Broker / Agent:

Description:

The Arbor Pines Villas Apartments are well located on E. Mulberry St. (Hwy 35) in Angleton, Tx., which is part of the Houston MSA.  The property is in the Brazosport market, a sub-market to Houston. The Houston City limits are approximately 29 miles north of the property. The Brazosport area is home to the Dow Chemical Industrial complex. Dow is the largest chemical complex in the world. A few of the top employers that are minutes from the property are; Dow Chemical Company, Fluor Corporation, Zachry Group, Phillips 66, BASF Corporation and Excel. The property is in an area with low apartment density.
Property Information - In recent years the owner has invested approximately 352K in interior and exterior upgrades which include approximately 216K in interior improvements and approximately 136K in exterior improvements. A new owner could see upside with continued interior and exterior improvements.
Upside Potential - The owner just increased the market rents to the current level shown in the offering memorandum. A new owner should benefit from the increase upon renewals and move-ins. In addition, strong management and continued upgrades to the property could produce additional upside in the rents post the improvements and income stabilization.
Unit Features - Large Spacious 1, 2 and 3 Bedroom Floor Plans, Fully Equipped all Electric Kitchens, Tile, Carpet and Faux Wood Flooring, Window Coverings, Ceiling Fans, Resurfaced Counter-tops, White Appliances, Shower/Bathtub Arrangement, Ceramic Tub and Tile surround, Decorative Bathroom Mirrors, Cable Ready, Wood Cabinets, Dishwasher, Ice-Maker & Garbage Disposal, Walk-in Closets, Washer and Dryer Hookups in all 2 Bedroom / 2 Bath and 3 Bedroom / 2 Bath units and select 1 Bedroom / 1 Bath Units, (Interior appointments vary in each design).
Community Amenities - Pool, Picnic Areas, Ample Surface Parking, Covered Parking, Grilling Area, Clubhouse, Cafe Bar, Playground. It is located within Close Proximity of Major Employers, and to award winning schools.

Financials:

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