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POSSIBLE SHORT SALE! GOOD VALUE ADD DEAL. The Villas Apartments is a clean, 196 unit, brick and wood, 1972 vintage apartment property located near the intersection of Loop 610 east and I-45 in southeast Houston. This is a "C" quality property in a "C" location. No owner financing. The owner and lender may agree to a discounted loan payoff to a new buyer. The property is located on the feeder road of the 610 Loop and has good drive-by visibility from the freeway. With interior upgrades and the correction of minor deferred maintenance, the property should see an upside in collections. It is located in a stable rental market that consistently outperforms the Houston Market on average. Asking $14,158 per unit ($19.71/sf). Historically has maintained high occupancy!
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