GATEWAY GROVE

315 N 2ND STREET LA PORTE, TX 77571

Specifications

Property Type: 
Garden/Low Rise
Class: 
C+
Year: 
1965
Units: 
88
Rentable Sq. Ft.: 
61,329
Lot Size: 
2.44 acres
Listing Type: 
Status: 

The Gateway Grove Apartments, is a two story, garden-style, apartment community located in the La Porte submarket of Houston,Texas. The asset was built in 1965 and per ADS Online was rehabbed in 2015. Residents enjoy ample amenities which include: mini-blinds, kitchen pantries, ceiling fans, laundry facilities, patios and balconies and walk-in closets.

Per ADS Online, current reprted leasing concessions include $299 off the 1st months rent with a 12 month lease.

There are very few multi-family assets in La Porte. It is a strong market with "Barriers to Entry".

Prepayment penalty on the loan is 3% for 2 years, 2% for 2 years and 1% for the remaining 3 years.

Supporting Documents
Private

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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