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55+ Corinthian Village Independent Senior Living

$8,350,000

6105 West Orem Drive, Houston, TX 77085

Pending
Last Updated: 10/29/2024

128,331 sqft

Building Size

5.7 acres

Lot Area

Details:
Building Size:    128,331 sqft
Lot Area:    5.7 acres
Occupancy:    97%
Class:    B
Units:    124
Year Built:    2009
Price Per Sqft:    $65.06
Price Per Unit:    $67,339
Floors:    3
Parking Spots:    143
Number of Elevators:    4
Investment Strategy:    Value Add
Highlights:
  • The property offers tenants full kitchen packages, stackable washer/dryers, high speed internet and cable TV, private patios or balconies, and 4 elevators.
  • This 55+ Multi-Family property is located near the Beltway and the Ft. Bend Toll Road.
  • Built in 2009, is in Good Condition on 5.77 Acres.
  • Facilities include gated access, well-manicured gardens with benches and BBQ pits, multipurpose activity room, media room and other amenities.
  • Property is not in any Flood Plain/Zone.
  • Owned by a Church that does not understand how to run a 55+ property!
  • Property was just approved for 55+. Since 2009, it was operated as a 62+.
Description:

This 55+ Multi-Family property is located near the Beltway and the Ft. Bend Toll Road.

Built in 2009, is in Good Condition on 5.77 Acres.

Facilities include gated access, well-manicured gardens with benches and BBQ pits, multipurpose activity room, media room and other amenities.

The property offers tenants full kitchen packages, stackable washer/dryers, high speed internet and cable TV, private patios or balconies, and 4 elevators.

Property is not in any Flood Plain/Zone.

Owned by a Church that does not understand how to run a 55+ property!

This is a value-added deal! Rent Roll and other Financial Information avaiable Friday.

Map:
Documents:
Title
6105_W_Orem-Brochure.pdf
6105_W_Orem-Floor_Plans.pdf
mortgage_payment.pdf
Corinthian_V_CapX_12_Month_Trailing.xlsx
CV_Trail_Report_2023.xlsx
CV_Trail_Report_2022.xlsx
Corinthian_Village_Rent_Rolls.pdf
pl.pdf
pl_june.pdf
Corinthian_Village_COH_Loan_Agreement.pdf
Restrictive_Covenants__2009_.pdf
Corinthian_Village_-_As_Built_Survey_-pdf.pdf
Special_Warranty_Deed.pdf
Modification_of_Deed_of_Trust.pdf
Loan_Modification_and_Assumption_Agreement__2015_.pdf
6105_W_Orem-Floor_Plans.pdf
6105_W_OREM-__55_CORINTHIAN_VILLAGE_INDEPENDENT_SENIOR_LIVING_.docx
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Document

Today's Available Mortgage Rates

6501 West Orem Drive, Houston, Texas 77085

Choose Your Priority
 
Interest Rate
Mo. Payments
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default.
Loan Amount
Rates as of 10/25/2024
Agency*Lender #634
5 Year Fixed
30 Year Amortization
Interest rate 5.66% 5 Year Fixed
Mo. Payment$22,196 30 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 46% LTV $8,500 Lender fees
Loan Amount $3,841,000 Loan Amount
Agency*Lender #634
7 Year Fixed
30 Year Amortization
Interest rate 5.6% 7 Year Fixed
Mo. Payment$22,050 30 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 46% LTV $8,500 Lender fees
Loan Amount $3,841,000 Loan Amount
Agency*Lender #634
10 Year Fixed
30 Year Amortization
Interest rate 5.61% 10 Year Fixed
Mo. Payment$22,075 30 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 46% LTV $8,500 Lender fees
Loan Amount $3,841,000 Loan Amount
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