PARKWAY APARTMENTS

1140 GEORGIA STREET, BEAUMONT, TX 77705

Specifications

Property Type: 
Apartment
Class: 
C+
Year: 
1968
Units: 
82
Rentable Sq. Ft.: 
80,001
Lot Size: 
3.47 acres
Listing Type: 
Status: 

The Parkway Apartments, is a two story, garden-style, apartment community located in the South Park submarket of Beaumont,Texas. The asset was built in 1968. Resident amenities include: mini-blinds, kitchen pantries, ceiling fans, patios and balconies. Tenants pay electric and Owner pays for water/sewer.
Currently there are no reported leasing concessions. This property previously received a Weatherization Grant.

The Owners take about $205,000 per year plus 17% federal tax burden out of both Parkway and Alabama. A buyer needs to run his or her own payroll expense and probably buy these together. The buyer must purchase in conjunction with Alabama Gardens Apartments.

Situated directly east of Beaumont’s city center, the South Park neighborhood encompasses most of the city’s greatest attractions. Well-maintained parks sprinkled throughout the neighborhood make it great for families, and local museums highlight Texan culture. Located approximately 4 minutes from Downtown Beaumont, the neighborhood is also home to Lamar University, one of the fastest-growing universities in Texas. Rentals in South Park range from affordable apartments south of Lavaca Street that are great for students, or charming single-family homes closer to downtown. The asset is an estimated 7 miles from Southeast Texas Regional.

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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