142 W 5th St – 4 Unit Apartment Building Offered at $849,500 in Kemah, TX
About This Project
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INVESTMENT HIGHLIGHTS
- WALKING DISTANCE TO MANY RESTAURANTS AND SHOPPING STORES (TARGET, WAL-MART, HOME DEPOT, ALDI, AND MANY MANY MORE)
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THE OFFERING
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| Price | $849,500 |
| Price Per Unit | $212,375 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
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| Building Class | B |
| Building Size | 5,000 SF |
| Average Occupancy | 75% |
| No. Stories | 3 |
| Year Built | 2020 |
| Parking Ratio | 1.6/1,000 SF |
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UNIT AMENITIES
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- Dishwasher
- Microwave
- Ceiling Fans
- Wi-Fi
- Dining Room
- Vinyl Flooring
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- Kitchen
- Granite Countertops
- Refrigerator
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- Oven
- Walk-In Closets
- Carpet
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Picnic Area
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ABOUT 142 W 5TH ST , KEMAH, TX 77565
[/vc_column_text][vc_separator type=”small” position=”left” color=”#001433″][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=””][vc_column_inner][vc_column_text]CURRENTLY 3 UNITS ARE LEASED IN THIS BUILDING. THERE IS ONE THREE BEDROOM TWO BATH AVAILABLE. IF YOU MOVE IN THE LAST UNIT YOU MAY QUALIFY FOR A PRIMARY RESIDENCE FIXED 30 YEAR MORTGAGE.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_empty_space][vc_separator type=”normal” color=”#f1f1f1″][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_empty_space][vc_column_text]
UNIT MIX INFORMATION
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| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SQ. FT. |
| 2+2 | 2 | $1,625 | 1,009 |
| 3+2 | 2 | $1,825 | 1,100 – 1,200 |
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FINANCIAL SUMMARY (PRO FORMA – 2020) |
ANNUAL |
ANNUAL PER SF |
| Gross Rental Income | $6,255 | $1.25 |
| Other Income | – | – |
| Vacancy Loss | – | – |
| Effective Gross Income | $6,255 | $1.25 |
| Taxes | $541 | $0.11 |
| Operating Expenses | $490 | $0.10 |
| Total Expenses | $1,031 | $0.2 |
| Net Operating Income | $5,224 | $1.04 |
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TRANSPORTATION
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Airport
| Ellington Field Airport | 27 min drive | 12.8 mi |
| William P. Hobby Airport | 37 min drive | 23.4 mi |
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PROPERTY TAXES
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| Parcel Number | 7485-0006-0009-000 | Total Assessment | $142,000 (2019) |
| Land Assessment | $123,260 (2019) | Annual Taxes | $541 ($0.11/sf) |
| Improvements Assessment | $18,740 (2019) | Tax Year | 2020 |
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ZONING
| Zoning Code | N/A |
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REGIONAL
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SATELLITE
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