Class "C" 348 Unit Apartment in Houston - 1031 Investment - SOLD
Posted on Fri, May 20, 2011
Class "C" 348 unit apartment complex in Houston, Texas with a 12.4% cap rate represents a potential 1031 replacement property. With a low $15,805 price per door, the property is priced to move quickly. Rental income is $1,638,000 with annual operating expenses of $908,000, resulting in a Net Operating Income of $638,000. Running a 90% occupancy, the property is listed at $5,500,000.
Contact Randy McCarty at 804-908-6377 or mccartyvisio09@gmail.com.