A small 84 unit home and duplex community that is 95% occupied and is maintaining a high occupancy post recent interior upgrades. It is conveniently located approximately 2 and a half miles outside Loop 610 N. The La Casita Home and Duplex Community is located less than a mile from grocery retailers, shopping centers and restaurants. The immediate area has a diverse population with a major Hispanic influence. La Casita Homes was constructed in 1964 and the owner has renovated the majority of the units and has completed some exterior improvements. The interior improvements include; painting, new cabinetry, updates to the bathrooms and kitchens, new flooring and new appliances. Some of the exterior improvements performed include; some improvements to drainage, some brick and concrete replacement, the breaker boxes have been replaced on the Duplexes, some wall painting and some roof replacement / repair.
Offered "All Cash" Buyer to obtain new financing. There is no assumable debt in place, allowing for unrestricted financing options to a buyer.
Located near major employment centers in Houston with ease of access to the many businesses up and down the I-45 corridor as well as Beltway 8, Hardy Toll Rd, Hwy-59 and Loop 610 N. The Pinto Business Park, a 971 acre industrial park that has become home to more than 4 million square feet of industrial and logistics users since 2013, is less than 7 miles from the property. The park is the new home of the Amazon Distribution Center as well as many other major employers such as Sysco, Grocers Supply, Alfa Laval, Cambria, Red Bull and many others. Downtown Houston is approximately 6 miles southwest of the property and the Metro Red Line (train) is only 2.3 miles southwest and commutes to Downtown and the University of Houston.
There seems to be upside in the rents with further improvements to the interiors of the units and to the exterior of the property. There is no RUBS in placeThere seems to be upside in the rents with further improvements to the interiors of the units and to the exterior of the property. There is no RUBS in placefor Water or Gas, a new owner may find additional income by implementing a RUBS for both Water and Gas. The property is individually metered for Electricity and master metered for Gas and Water. Each unit has its own gas hot water heater.