Multifamily Apartment Complex for Sale in Hitchcock
$2,975,000
6205 Jackson Rd., Hitchcock, TX 77563
19,608 sqft
Building Size
1.29 acres
Lot Area
Details:
Description:
29 unit multifamily apartment complex located just outside of Galveston. Premium location. 6.16% Cap Rate! The subject property is just a 23 minute drive from the Seawall. Rent could be raised quite a bit to reach market competition. Positive reviews of the apartments from tenants online. The manager has expressed interest in staying onsite for new ownership. Value Add: There is enough room to add an additional 6 units to the property. All of the Central air and heat systems have been replaced with high-efficiency units. Most of the interior units have been completely re-positioned with premium finishes including stainless appliances and new fixtures. Owner is adding a coin serviced laundromat on the property.
Subject property is roughly 7.5 miles from Texas City's Oil/Gas District, and 16 miles to Galveston, and just over 35 miles to Houston More than 55% of households are married couple families; 36%are couples with no children living at home. Average household size is slightly smaller at 2.43. Most households have one or two vehicles. Nearly 60%have attended college or hold a degree. Unemployment is lower at 8%, but so is labor force participation at 60%.
6.16% Cap Rate
29 Units
7.5 miles to Texas City's oil/gas district
16 miles to Downtown Galveston
Average Occupancy 100%
Documents:
| Title | ||
|---|---|---|
| 6205 Jackson Road Listing Brochure |
Location
Gallery
