MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier...

17
MULTI - FAMILY FOR SALE THE LONGSTREET APARTMENTS We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands, TX 77354 SALE PRICE: UNITS/PARKING: BUILDING SIZE: $1,218,000 10,000 SF 16 Units /22 Spaces CAP RATE: 7.53% (Pro Forma) CROSS STREETS: Longstreet & Daniel St NOI: $91,761 LOT SIZE: 0.43 Acres Income Producing Apartment Community Servicing Willis, TX Quiet Residential Community Attracts Great Mix of Tenants Each 625 SF unit has 1 bedroom / 1 bath with Spacious Porches & Fireplaces Upstairs Many Long-Term Residents & Competitive Rental Rates Ensures a consistently High Occupancy Rate Significant Upgrades to Flooring, Cabinets & Appliances. Very Well-Maintained Property Concrete Parking Lot Recently Expanded Provides Plenty of Parking in Front & Back Security Cameras on Premises PROPERTY HIGHLIGHTS

Transcript of MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier...

Page 1: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

MULTI-FAMILY FOR SALE

THE LONGSTREET APARTMENTS

We obtained the information above from sources we believe to be reliable. However, we have not verified itsaccuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal withoutnotice. We include projections, opinions, assumptions or estimates for example only, and they may notrepresent current or future performance of the property. You and your tax and legal advisors should conductyour own investigation of the property and transaction.

BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

SALE PRICE:

UNITS/PARKING:

BUILDING SIZE:

$1,218,000

10,000 SF

16 Units /22 Spaces

CAP RATE: 7.53% (Pro Forma)

CROSS STREETS: Longstreet & Daniel St

NOI: $91,761

LOT SIZE: 0.43 Acres

Income Producing Apartment Community Servicing Willis, TX

Quiet Residential Community Attracts Great Mix of Tenants

Each 625 SF unit has 1 bedroom / 1 bath with Spacious Porches & Fireplaces Upstairs

Many Long-Term Residents & Competitive Rental Rates Ensures a consistently High Occupancy Rate

Significant Upgrades to Flooring, Cabinets & Appliances. Very Well-Maintained Property

Concrete Parking Lot Recently Expanded Provides Plenty of Parking in Front & Back

Security Cameras on Premises

PROPERTY HIGHLIGHTS

Page 2: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

Dawn RogersOffice Manager

Rick Stallings, MBA

RICK STALLINGS TEAM713.503.0808713.899.3186

BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

BERKSHIRE HATHAWAY HOMESERVICES COMMERCIAL DIVISION30350 FM 2978, The Woodlands, TX 77354

Page 3: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

MULTI-FAMILY FOR SALE

THE LONGSTREET APARTMENTS214 Longstreet Rd, Willis, TX 77378

We obtained the information above from sources we believe to be reliable. However, we have not verified itsaccuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal withoutnotice. We include projections, opinions, assumptions or estimates for example only, and they may notrepresent current or future performance of the property. You and your tax and legal advisors should conductyour own investigation of the property and transaction.

BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

The Longstreet Apartments are located in thequaint, quiet community of Willis, Texas justminutes from Interstate 45, the major corridorbetween Houston and Dallas. However this area isgrowing rapidly as it is just 20 minutes from TheWoodlands to the south and 20 minutes from SamHouston State University to the north. Also, LakeConroe, a popular lake among Houstonians, is just afew short miles away.

The tenants love calling this place home, as somehave lived here for 10 – 15 years! And there is agreat mix of tenants, too. A combination of tenantloyalty, location and very competitive rental rateshave enabled the owners to maintain a consistentlyhigh occupancy rate through the years. We had topractically convince them to sell this place!

The community is conveniently situated on a cornerallowing easy entrance/exit with plenty of parkingin the front and rear of the property.

Although the building was constructed in 1983, theowners have continuously updated the units. Most

PROPERTY OVERVIEW

of the them have been completely renovated in thelast 5 years, giving the apartments a fresh new feel.

The owners have maintained this property wellincluding a rebuilding of the North and West Walls,adding new energy-efficient windows, installingnew cabinets, and updating the flooring. Several ofthe units have newer appliances, brand new A/Csand water heaters. They also recently widened thedriveway, replaced porch decks, and installedsecurity cameras on the property. Their recordkeeping is meticulous.

The building consists of 16 apartments, each with625 SF of living space, 1 bedroom, 1 bath, withspacious porches & upstairs fireplaces. All havewasher and dryers. The units are currentlyadvertised for $720/month. Pet rent was alsorecently implemented, bringing in extra income forthe owners.

What this place lacks in amenities, it makes up forin community feel. And with the recent change inthe economy, the demand for apartments promisesto be strong. Don’t miss this opportunity to lock instable earnings on your investment..

Page 4: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

MULTI-FAMILY FOR SALE

THE LONGSTREET APARTMENTS214 Longstreet Rd, Willis, TX 77378

We obtained the information above from sources we believe to be reliable. However, we have not verified itsaccuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal withoutnotice. We include projections, opinions, assumptions or estimates for example only, and they may notrepresent current or future performance of the property. You and your tax and legal advisors should conductyour own investigation of the property and transaction.

BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

Page 5: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

MULTI-FAMILY FOR SALE

THE LONGSTREET APARTMENTS214 Longstreet Rd, Willis, TX 77378

We obtained the information above from sources we believe to be reliable. However, we have not verified itsaccuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal withoutnotice. We include projections, opinions, assumptions or estimates for example only, and they may notrepresent current or future performance of the property. You and your tax and legal advisors should conductyour own investigation of the property and transaction.

BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

Page 6: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

MULTI-FAMILY FOR SALE

THE LONGSTREET APARTMENTS214 Longstreet Rd, Willis, TX 77378

We obtained the information above from sources we believe to be reliable. However, we have not verified itsaccuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal withoutnotice. We include projections, opinions, assumptions or estimates for example only, and they may notrepresent current or future performance of the property. You and your tax and legal advisors should conductyour own investigation of the property and transaction.

BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

ARIEL VIEW: The Longstreet Apartments are situated on 0.43 Acresat the corner of Longstreet Rd & Daniel Street. Parking is providedboth in front and to the rear of the property, providing two pointsof access. Parking lot is constructed of reinforced concrete.

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Source: https://www.itemonline.com/news/local_news/

MULTI-FAMILY FOR SALE

THE LONGSTREET APARTMENTS214 Longstreet Rd, Willis, TX 77378

We obtained the information above from sources we believe to be reliable. However, we have not verified itsaccuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal withoutnotice. We include projections, opinions, assumptions or estimates for example only, and they may notrepresent current or future performance of the property. You and your tax and legal advisors should conductyour own investigation of the property and transaction.

BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

Page 8: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

MULTI-FAMILY FOR SALE

THE LONGSTREET APARTMENTS214 Longstreet Rd, Willis, TX 77378

We obtained the information above from sources we believe to be reliable. However, we have not verified itsaccuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal withoutnotice. We include projections, opinions, assumptions or estimates for example only, and they may notrepresent current or future performance of the property. You and your tax and legal advisors should conductyour own investigation of the property and transaction.

BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

Page 9: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

INVESTMENT OVERVIEW

OPERATING DATA (YEAR 1)

FINANCING DATA

PricePrice per UnitGRMNOI (%)CAP Rate (%)Pre-Tax IRR (%)

$1,218,000$76,125

8.8169.08

7.5317.87

Gross Scheduled IncomeVacancy CostGross IncomeOperating ExpensesNet Operating Income

$139,740$6,912

$132,828$41,067$91,761

Down PaymentLoan AmountAnnual Debt ServiceMonthly Debt ServicePrincipal Reduction (yr 1)Interest Rate (%)Terms (Yrs)

$313,635$913,500

$68,963$5,747

$16,8765.75

25

Pro Forma Investment& Financing Information

MULTI-FAMILY FOR SALE

THE LONGSTREET APARTMENTS214 Longstreet Rd, Willis, TX 77378

We obtained the information above from sources we believe to be reliable. However, we have not verified itsaccuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal withoutnotice. We include projections, opinions, assumptions or estimates for example only, and they may notrepresent current or future performance of the property. You and your tax and legal advisors should conductyour own investigation of the property and transaction.

BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

Page 10: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

Detailed Financial Information

Considerable Financial Analysis has been performed onthis property. Please sign the Non-Disclosure Agreementincluded with this brochure to obtain detailed rent rolls &CCIM Analysis.

If you are sincerely interested in investing in this stableincome producing property, please be prepared to provideProof of Funds, such as bank statements and/or a Pre-Approval Letter from your financial institution.

Our client is interested in serious buyers only and is willingto sign your Non-Disclosure Agreement to move forwardwith the purchase of this property.

We look forward to working with you!

MULTI-FAMILY FOR SALE

THE LONGSTREET APARTMENTS214 Longstreet Rd, Willis, TX 77378

We obtained the information above from sources we believe to be reliable. However, we have not verified itsaccuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal withoutnotice. We include projections, opinions, assumptions or estimates for example only, and they may notrepresent current or future performance of the property. You and your tax and legal advisors should conductyour own investigation of the property and transaction.

BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

Page 11: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

Pouya Tiraie

Rick Stallings Team

Rick Stallings, MBA

Dawn Rogers, Office Manager

5 Miles

10 Miles

20 Miles

MULTI-FAMILY FOR SALE

THE LONGSTREET APARTMENTS214 Longstreet Rd, Willis, TX 77378

We obtained the information above from sources we believe to be reliable. However, we have not verified itsaccuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal withoutnotice. We include projections, opinions, assumptions or estimates for example only, and they may notrepresent current or future performance of the property. You and your tax and legal advisors should conductyour own investigation of the property and transaction.

BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

Page 12: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

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MULTI-FAMILY FOR SALE

THE LONGSTREET APARTMENTS214 Longstreet Rd, Willis, TX 77378

We obtained the information above from sources we believe to be reliable. However, we have not verified itsaccuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal withoutnotice. We include projections, opinions, assumptions or estimates for example only, and they may notrepresent current or future performance of the property. You and your tax and legal advisors should conductyour own investigation of the property and transaction.

BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

Executive Summary

Page 13: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

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BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

Executive Summary

Page 14: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

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BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

5-Mile Radius

Page 15: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

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BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

Gross Rent Summary

Page 16: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

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BERKSHIREHATHAWAY

HomeServicesPremier Properties

COMMERCIAL DIVISION

RICK STALLINGS713.503.080830350 FM 2978, The Woodlands, TX 77354

Crime Summary

Page 17: MULTI-FAMILY FOR SALE BERKSHIRE HATHAWAY THE … · BERKSHIRE HATHAWAY HomeServices Premier Properties COMMERCIAL DIVISION RICK STALLINGS 713.503.0808 30350 FM 2978, The Woodlands,

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