23431 Mcspadon RdPorter, TX 77365

For Sale
Call for price

29-Unit Apartment Building, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 29-unit multifamily property in Porter, Texas presents a compelling investment opportunity. Boasting a 6.00% capitalization rate and 100% occupancy, this new construction offers immediate cash flow. Situated on a spacious 3.58-acre lot, the two-story building features individually metered utilities, simplifying management and maximizing efficiency. The property benefits from unique triple net style leases, ensuring consistent income and minimizing landlord responsibilities. Long-term tenants are currently in place, providing stability and predictable returns. Below-market rents offer significant upside potential for future income growth. Conveniently located near Highway 59 and Grand Parkway 99, this property enjoys easy access to major transportation routes. Its proximity to multiple schools adds to its appeal. Furthermore, the property is situated outside all designated flood zones, mitigating risk. The Net Operating Income (NOI) is a substantial $415,904. This turnkey investment is ready for an immediate return. Don't miss this chance to acquire a high-performing, well-maintained multifamily asset in a desirable location.

Highlights

  • $415,904 Net Operating Income (NOI)
  • 29 Total Units
  • 3.58-acre lot size
  • 100% Occupancy with below-market rents
  • New construction with individually metered utilities and triple-net leases
  • Excellent location with easy access to Hwy 59 and Grand Parkway 99, near schools, and outside flood zones.

Property Details for 23431 Mcspadon Rd

Property type
Multifamily properties, Apartment buildings
Stories
2
Lot Size (sq. ft)
155,945 SF
Units
29

Location Insight

City
Porter
County
Montgomery
State
Texas
Latitude
30.0937955
Longitude
-95.2311246
23431 Mcspadon Rd, Porter, Texas

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23431 Mcspadon Rd
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