100% occupancy in august 2020 - images1.loopnet.com€¦ · appointed kitchen cabinets, faux...
TRANSCRIPT
SALE PRICE:
UNITS/PARKING:
BUILDING SIZE:
$2,999,000
21,670 SF (6 Buildings)
22 Units / 47 Spaces
CAP RATE: 7.06% (Pro Forma)
CROSS STREETS: 20th Street & Avenue S
NOI: $211,643
LOT SIZE: 1.44 Acres
Beautiful Apartment Community Servicing Huntsville, TX
Leasing agent is turning away tenants
New Construction Built in 2017 ~ 2018
Quiet Premiere Community Attracts Great Mix of Tenants
2 Master Suites w/Private Baths in Each Unit.
Sam Houston State University Nearby
Walking Distance to Campus28% Student Growth from 2010 ~ 2019
7% Graduate Student Growth from 2018 ~ 2019
PROPERTY HIGHLIGHTS
100% Occupancy in August 2020
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
Dawn RogersOffice Manager
Rick Stallings, MBA
RICK STALLINGS TEAM713.503.0808
BERKSHIREHATHAWAY
HomeServicesPremier Properties
COMMERCIAL DIVISION
BERKSHIRE HATHAWAY HOMESERVICES COMMERCIAL DIVISION30350 FM 2978, The Woodlands, TX 77354
The property consists of four (4) two-storyquadraplexes and two (2) two-story triplexes.The units, at 985 SF each, are some of the largestavailable in Huntsville. Each features richlyappointed kitchen cabinets, faux granite counter-tops, a range/oven, microwave, dishwasher, fullsized refrigerator and stained concrete floorsdownstairs. Upstairs offers private spaciouscarpeted dual master suites, each with a tiledprivate bath. See Photos.
In recent years, Huntsville has been unable tomeet SHSU’s demand for student housing due toa 28% growth rate over the last decade & aincredible 7% increase in graduate students lastyear. SHSU tuition falls below the average In-State tuition in Texas, making SHSU affordable,both in Texas and in the U.S.
Due to the strong student demand in Huntsvilleand the unique ability of this community toattract a variety of quality tenants, thisinvestment is sure to deliver solid earnings, evenin a weakened economy.
SCHEDULE A VIST TO THE PROPERTY TODAY!
RICK STALLINGS, MBA713.503.0808
This property is the newest premiere apartmentcommunity in the well-established college town ofHuntsville, TX.
The apartments are very quiet with a park-likesetting and community feel which makes themunique in this town. They are just a short walk toSam Houston State University, with a studentpopulation of over 21,000. And while mostapartments in Huntsville offer a college partyatmosphere, this complex attracts a great mix ofmore mature & serious students, faculty andgeneral community tenants.
PROPERTY OVERVIEW
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
Source: https://www.itemonline.com/news/local_news/
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
Source: https://www.shsu.edu/dept/institutional-effectiveness/fbenrollment
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
---
1 Block from I-45 & Walking Distance to SHSU
Sam Houston
State
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
INVESTMENT OVERVIEW
OPERATING DATA (YEAR 1)
FINANCING DATA
PricePrice per UnitGRMNOI (%)CAP Rate (%)Pre-Tax IRR (%)
$2,999,000$136,318
9.8873.00
7.0615.17
Gross Scheduled IncomeVacancy CostGross IncomeOperating ExpensesNet Operating Income
$305,095$15,180
$289,915$78,272
$211,643
Down PaymentLoan AmountAnnual Debt ServiceMonthly Debt ServicePrincipal Reduction (yr 1)Interest Rate (%)Terms (Yrs)
$772,243$2,249,250
$169,802$14,150$41,553
5.7525
Pro Forma Investment& Financing Information
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
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 low-riskincome producing premiere property, please be preparedto provide Proof of Funds, such as bank statements and/ora 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 AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
The Avenue Townhomes (Apartments)
Demographic Report
PopulationDistance Male Female Total
1- Mile 3,912 4,276 8,188
3- Mile 21,143 14,987 36,130
5- Mile 24,908 18,088 42,995
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other prof. advisor.
Richard Stallings
Berkshire Hathaway HomeServices 9303 New Trails Drive #300 The Woodlands, TX 77381 | 281-296-0111
Richard Stallings
Pouya Tiraie
Rick Stallings Team
Rick Stallings, MBA
Dawn Rogers, Office Manager
1 Mile
3 Miles
5 Miles
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
Employment by DistanceDistance Employed Unemployed Unemployment Rate
1-Mile 3,045 142 2.40 %
3-Mile 12,070 406 2.43 %
5-Mile 14,603 442 2.52 %
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other prof. advisor.
Richard Stallings
Berkshire Hathaway HomeServices 9303 New Trails Drive #300 The Woodlands, TX 77381 | 281-296-0111
Richard Stallings
Home Ownership 1 Mile
Home Ownership 3 Mile
Home Ownership 5 Mile
Renters
Owners
Renters
Owners
Renters
Owners
Ethnicity within 5 miles
Black
Hispanic
White
Asian
White Native American Asian
Black Pacific Islanders Hispanic
Population by Distance and Age (2018)5,000
3,000
2,000
1,000
0Age 0-4
Age 5-9
Age 10-14
Age 15-19
Age 20-24
Age 25-29
Age 30-34
Age 35-39
Age 40-44
Age 45-49
Age 50-54
Age 55-59
Age 60-64
Age 65-69
Age 70-74
Age 75-79
Age 80-84Age 85+
3-Mile 5-Mile1-Mile
4,000
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
Radius Median Household Income
1-Mile $33,150.33
3-Mile $35,097.58
5-Mile $35,807.33
Radius Average Household Income
1-Mile $40,563.56
3-Mile $36,416.81
5-Mile $37,476.96
Radius Aggregate Household Income
1-Mile $132,614,045.52
3-Mile $392,685,308.20
5-Mile $529,637,379.82
1-MilePop > 25 6,075High School Grad 1,241Some College 1,392Associates 586Bachelors 1,031Masters 500Prof. Degree 68Doctorate 227
3-mile27,4937,3295,6411,3743,6011,472
220687
5-mile32,5168,9656,5951,5334,3351,782
282739
Education
Agriculture Mining Construction Manufacturing Wholesale Retail Transportaion Information Professional Utility Hospitality Pub-Admin Other
1-Mile 58 38 104 118 25 488 77 107 159 815 468 346 177
3-Mile 691 287 394 467 184 1,540 244 968 419 3,006 1,892 1,317 448
5-Mile 862 356 498 605 259 1,740 319 1,002 500 3,634 2,085 1,751 726
Labor & Income
1-MileVacant Ready For Rent 22 %Teen's 31 %Expensive Homes 0 %Mobile Homes 44 %New Homes 13 %New Households 116 %Military Households 13 %Households with 4+ Cars 11 %Public Transportation Users 0 %Young Wealthy Households 0 %
3-mile39 %46 %
0 %168 %77 %
131 %7 %
35 %7 %
42 %
5-mile46 %55 %
3 %201 %90 %
141 %9 %
43 %10 %46 %
This Tapestry information compares this selected market against the average. If a tapestry is over 100% it is above average for that statistic. If a tapestry is under 100% it is below average.
Tapestry
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other prof. advisor.
Richard Stallings
Berkshire Hathaway HomeServices 9303 New Trails Drive #300 The Woodlands, TX 77381 | 281-296-0111
Richard Stallings
3-Mile 5-Mile1-Mile
> 200K150K-200K125K-150K100K-125K
75K-100K60K-75K50K-60K45K-50K40K-45K35K-40K30K-35K25K-30K20K-25K15K-20K10K-15K
< 10K
500 1,000 1,500 2,0000 2,500 3,000 3,500
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
1-Mile %Total Expenditures 119,644,262Average annual household 37,685Food 5,149 13.66 %Food at home 3,517Cereals and bakery products 494Cereals and cereal products 176Bakery products 318Meats poultry fish and eggs 730Beef 172Pork 127Poultry 140Fish and seafood 118Eggs 59Dairy products 350Fruits and vegetables 696Fresh fruits 101Processed vegetables 139Sugar and other sweets 130Fats and oils 109Miscellaneous foods 660Nonalcoholic beverages 312Food away from home 1,632Alcoholic beverages 255Housing 14,317 37.99 %Shelter 8,648Owned dwellings 4,421Mortgage interest and charges 2,149Property taxes 1,460Maintenance repairs 811Rented dwellings 3,636Other lodging 589Utilities fuels 3,479Natural gas 311Electricity 1,456Fuel oil 125Telephone services 1,055Water and other public services 529Household operations 882 2.34 %Personal services 228Other household expenses 653Housekeeping supplies 491Laundry and cleaning supplies 141Other household products 273Postage and stationery 76Household furnishings 815Household textiles 68Furniture 172Floor coverings 17Major appliances 109Small appliances 76Miscellaneous 370Apparel and services 1,110 2.95 %Men and boys 186Men 16 and over 144Boys 2 to 15 41Women and girls 419
5-Mile %501,277,422
38,4165,168 13.45 %3,514
49717831871816612713711659
348704103140129111659309
1,654258
14,460 37.64 %8,7144,7012,3001,563
8363,421
5913,537
3191,461
1311,083
541904 2.35 %23666748613927472
81765
16618
12174
3711,056 2.75 %
18815236
398
3-Mile %398,321,081
38,0205,122 13.47 %3,489
49317631671416512613611558
345698102139128110655307
1,632255
14,342 37.72 %8,6434,6372,2671,541
8283,424
5813,515
3171,454
1301,076
537893 2.35 %23366048213927171
80864
16317
12074
3671,047 2.75 %
18614936
395
Expenditures
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other prof. advisor.
Richard Stallings
Berkshire Hathaway HomeServices 9303 New Trails Drive #300 The Woodlands, TX 77381 | 281-296-0111
Richard Stallings
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
Women 16 and over 350Girls 2 to 15 68Children under 2 92
1-Mile %Total Expenditures 119,644,262Average annual household 37,685Transportation 5,061 13.43 %Vehicle purchases 1,074Cars and trucks new 479Cars and trucks used 568Gasoline and motor oil 1,743Other vehicle expenses 1,904Vehicle finance charges 124Maintenance and repairs 680Vehicle insurance 874Vehicle rental leases 225Public transportation 339Health care 2,826 7.50 %Health insurance 1,927Medical services 533Drugs 272Medical supplies 93Entertainment 2,137 5.67 %Fees and admissions 350Television radios 850Pets toys 778Personal care products 485Reading 43Education 1,106Tobacco products 383Miscellaneous 591 1.57 %Cash contributions 991Personal insurance 3,226Life and other personal insurance 119Pensions and Social Security 3,107
3306884
3276784
3-Mile %398,321,081
38,0205,191 13.65 %1,124
526567
1,7651,972
132683926230328
2,966 7.80 %2,003
57928695
2,195 5.77 %35786479548642
980377599 1.58 %
1,0543,358
1243,233
5-Mile %501,277,422
38,4165,247 13.66 %1,143
539573
1,7771,992
133691933233334
2,996 7.80 %2,021
58729096
2,219 5.78 %36586980449243
992378605 1.57 %
1,0623,434
1253,308
Estimated Households Housing Occupied By Housing OccumpancyDistance Year Projection 2000 Change 1 Person Family Owner Renter Vacant1-Mile 2020 6,793 6,542 -0.33 % 2,472 2,923 2,152 4,641 535
3-Mile 2020 16,052 15,538 0.90 % 4,811 8,547 7,747 8,305 2,060
5-Mile 2020 16,551 16,150 0.19 % 4,903 8,928 8,214 8,337 2,455
1-Mile 2023 7,416 6,542 9.12 % 2,705 3,184 2,426 4,990 572
3-Mile 2023 17,467 15,538 9.11 % 5,250 9,268 8,409 9,058 1,826
5-Mile 2023 18,033 16,150 8.49 % 5,354 9,700 8,913 9,120 2,167
Expenditures (Continued)
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other prof. advisor.
Richard Stallings
Berkshire Hathaway HomeServices 9303 New Trails Drive #300 The Woodlands, TX 77381 | 281-296-0111
Richard Stallings
MULTI-FAMILY FOR SALE
THE AVENUE TOWNHOMES2002 20th Street, Huntsville, TX 77340
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 STALLINGS713.503.0808 | [email protected] FM 2978, The Woodlands, TX 77354
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