LOS ARCOS

8101 Leonora St., Houston, TX 77061

Property Location

Specifications

Price: 
$ 2,400,000
Property Type: 
Garden/Low Rise
Class: 
C+
Year: 
1967
Units: 
64
Rentable Sq. Ft.: 
65,700
Lot Size: 
1.53 acres
Listing Type: 
Status: 

The Los Arcos Apartments is a two story, garden-style, apartment community located in southeast Houston, Texas. The asset was built in 1967. Residents enjoy ample amenities which include: mini-blinds, kitchen pantries, ceiling fans, laundry facilities, patios and balconies, walk-in closets and storage. Owner recently did a major renovation to the interiors and exteriors of the property in 2015.

Office hours have been reduced to 15 hours/week - open on Tuesdays, Wednesdays and Fridays. This should reduce payroll to $78K per year/$1,218 per unit. The revenue for the down units that have been leased will increase rental income $1,798 per month. Other avenues for income are charging for reserved parking and hiring a water conservation company to save on water consumption.

Reportedly, Hobby Airport will add 10,000 jobs due to the recent expansion of The Southwest Airlines flights to include trips to South America and the Caribbean.

The property is nearby major employment and service facilities including: William P. Hobby Airport and Ellington International Airport. The city of Pasadena is conveniently located 15 miles from both Houston’s CBD and the Port of Houston. The Port of Houston is the largest U.S. port in total tonnage, and the 13th busiest in the world. It is ranked #1 in North America for break-bulk/project cargo, steel, and petroleum. The Port of Houston has created over 1,026,820 jobs and $178.5 billion in revenue for the state of Texas.

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.

Hashir Saleem

Location: 
Houston, TX
hashir.ketent@gmail.com
Office: 
713-355-4646 x 106
Fax: 
713-355-4331

Hashir Saleem is a licensed Texas Real Estate Broker involved in real estate marketing services for institutional and individual investors. Hashir holds a B.S. in Industrial Engineering from the University of Houston and an MBA from Rice University's Jones Graduate School of Business.

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