1700 BAYWOOD DRIVE, BAY CITY, TX 77414
The Shadow Bay Apartments, is a two story, garden-style, apartment community located in the Bay City submarket of Houston,Texas. The property is located off a major thoroughfare in the area (Hwy 60 / Avenue F) on Baywood and is approximately a mile from TX Hwy 35. The asset was built in 1978. Residents enjoy ample amenities which include: mini-blinds, kitchen pantries, ceiling fans, laundry facilities, patios and balconies and walk-in closets.
Per owner, the property underwent a major rehab in 2014/2015. The rehab included replacement of all roofs in 2015, gutter replacement, wood replacement, balcony and landing repairs, new double pane windows, exterior painting, boiler replacement, exterior lighting upgrades, office/clubhouse/fitness center remodel, new swimming pool, brand new gated $40K playground with half basketball courts and benches, new signage, upgraded landscaping, parking lot repairs, some new HVAC's and the upgrading of approximately 200 units (80%) including washer & dryer connections available.
Over the last couple of years the population in Bay City and Matagorda County has grown rapidly. The major industrial plants in the county bring in hundreds of contract employees during planned outages, shutdowns or expansions. The Bay City area is quickly growing and expanding. It is within a booming county and a desirable destination for businesses and families.
The Owner is willing to carry part of the loan for three years at 5.5% interest with an option to extend.
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.