1349 JEFFERSON DRIVE, PORT ARTHUR, TX 77642
The Chelsea Court Apartments, is a two story, 14 unit, garden-style, brick apartment community located in Port Arthur, Texas. The asset was built in 1958 and updated over the past few years. Resident amenities include: mini-blinds, kitchen pantries, ceiling fans, patios and balconies.
Currently there are no reported leasing concessions. Some of the units are rented furnished. The owner occupies one 2 bedroom unit and another family member occupies one 1 bedroom unit (and these are non-rev). Per owner, the property did flood during Hurricane Harvey. The asset is "All bills paid" including electric, water, cable and Wi-Fi and each unit is separately metered for electric per Owner. New roofs were previously installed along with a new hot water heater. There are 4 units upstairs that need new carpet. The bottom 8 units got new flooring and paint and 2 new roofs after Hurricane Harvey. The window units heat & cool, and the furnished units come with flat screens. The property also features a laundry room with 2 washers, 1 stackable and 2 dryers. The current owner purchased the property a year after Hurricane Rita. The buildings were rewired and have pex pipe. The underground plumbing was replaced at that time. The property was taken down to the studs and the foundation and 4 walls were replaced. All the exterior is Hardie plank. Per Owner, the units took on a few inches of water from Hurricane Harvey.
Nearby schools include Travis Elementary School, Jefferson Middle School and Memorial High School.
Past collections(rent/laundry) are as follows: 2019 - $140,768.53; 2018 - $133,595.00; 2017 - $102.124.38( Harvey Flood); 2016 - $124,534.52; 2015 - $124,073.38
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.