600 BLOCK OF WEST TEXAS

Baytown, TX 77520

Specifications

Property Type: 
Apartment
Class: 
A
Year: 
2018
Units: 
34
Rentable Sq. Ft.: 
24,650
Lot Size: 
0.80 acres
Listing Type: 
Status: 

All tours by appointment only! All tours MUST be made through the Broker.

The 600 Block of West Texas is a Class "A", vintage, renovated apartment community located in the Baytown submarket of Houston, Texas. The vintage building was originally built for Culpepper Furniture Co in 1954. In the 1980's, it became Hefner's Fine Gifts & China. Per HCAD, in 2018 the asset was transformed into an upscale rental loft apartment building. All lofts are located on the 2nd floor and assigned garage parking is provided. The owners installed all new interior walls, new electrical and plumbing, new roof, a/c, granite countertops, appliances, etc. The interior finishes are Class A, in the opinion of the Broker! Residents enjoy ample amenities which include: mini-blinds, ceiling fans, laundry facilities, walk-in closets. Per owner, 100% of the interior walls are 5/8" drywall (not 1/2"). The "world's best roof" was installed at an all-in cost over $200,000. It's a Duro-Last pvc roof backed by a 15 year warranty against leaks (including standing water warranties). There are steel studs and concrete block on ground floor (no wood framing on ground floor), preventative termite treatment was applied around the full perimeter during construction. There is 100% new mechanical, electrical and plumbing which complies with 2009 energy codes and 2009 international building codes. Goodman HVAC's were installed along with full Frigidaire appliances packages. And the tenants have assigned parking. Per ADS Online, currently there are no reported leasing concessions.

The owners are in the construction business and have extensively updated this "One of a Kind" building into one with Class A interiors. The broker feels that an interior designer could vastly improve the office and the interior hallways!

This property is ideal for a small investor! Just 3 or 4 more leases will make this much easier to put long term non recourse financing in place!

A Confidentiality Agreement must be signed in order to receive financial documents

Supporting Documents

Tom Wilkinson

Location: 
Houston, TX
twilk4.ketent@gmail.com
Office: 
713-355-4646 x 102
Fax: 
713-355-4331

Tom Wilkinson has performed real estate marketing serves for institutional and individual investors since 1972. He has a BA in Mathematics from Rice University and an MBA in Real Estate Investments from the University of Texas. In addition to brokering real estate, Tom previously owned and operated more than 80 properties. Tom has successfully marketed properties for and to dozens of individual, business and institutional sellers and buyers, including REO properties for the RTC, FNMA and FreddieMac.

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