Crossings at Berkley Square

RECENT FORECLOSURE - "C" QUALITY PROPERTY IN A "B" LOCATION! GOOD VALUE ADD DEAL! The Crossings at Berkley Square is a 152 unit, 1970 vintage, brick and wood, garden-style apartment community located in the Braeswood area of southwest Houston. The property is approximately 89% occupied. Needs correction of minor deferred maintenance. All Cash. No owner financing. A new owner could see upside in collections and rents with interior upgrades and correction of minor deferred maintenance. Asking $25,329 per unit ($36.46/sq.ft.).Click this link to visit our YouTube property video.

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Dylan's Crossing

A VALUE ENHANCEMENT OPPORTUNITY! Available All Cash. Dylan's Crossing is a 50 unit, garden style apartment complex, located on Leonora St in southeast Houston, near Hobby Airport, a major employment center. According to HCAD, each unit is appraised at $4,200. The broker estimated a future tax assessment at $15,000 per unit. The project has been partially converted to condominiums and 14 of the units were sold to another party. These may be available for sale as well. Older data is available but not warranted by the owner. Most Houston owners charge for water - This is a potential upside! Seller foreclosed and intends to upgrade interiors and exteriors by 9/1/2010. Asking $22,500 per unit ($20.13/sf). ).Click this link to visit our YouTube property video.

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Flagstone Gardens

***PRICE REDUCED TO $5,840,000***RECENT FORECLOSURE WITH GOOD UPSIDE POTENTIAL. ALL CASH. NO OWNER FINANCING. 292 unit, garden-style, C+ quality, brick and wood apartment complex located in southeast Houston just on the border of the Pasadena city limits. Excellent visibility on Edgebrook, a heavily travelled, major thoroughfare. The asset has excellent access to I-45 and is approximately 15 miles southeast of the Houston CBD. The property benefits from the Pasadena petro-chemical/ship channel employment base as well as the waterfront district of Clear Lake/Kemah. There are appoximately 3 down units. The property's current rents seem to be well below its competition. With correction of deferred maintenance and interior upgrades, a new owner may be able to see an increase in market rents. Asking $20,000 per unit ($25.41/sf).Click this link to visit our YouTube property video.

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Ridge Stone

POSSIBLE SHORT SALE. GOOD VALUE ADD DEAL. All Cash - No Owner Financing. The current lender may discount the loan. Clean, 104 unit, garden-style, C quality property located in southwest Houston on Fondren Rd. Located near major transportation arteries allowing easy access to the 3 major employment centers in Houston. Blue-collar tenant base. The property enjoys high visibility and traffic count. With interior upgrades and the correction of minor deferred maintenance a new owner should see upside in the collections. Asking $16,154 per unit ($17.73/sf). ).Click this link to visit our YouTube property video.

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Wood Forest Glen

RECENT FORECLOSURE - EXCELLENT CASH FLOW OPPORTUNITY! 336 unit, garden style, brick and wood apartment complex located in the Northshore area of east Houston. Available on an ALL CASH or new loan basis. Highly amenitized. The property has convenient access to Interstate 10, Loop 610 and the Sam Houston Toll Road. The North Shore area is typically a working class area with area residents largely employed in the petro-chemical/ship channel industries located in Pasadena and surrounding areas. Asking $16,667 per unit ($22.81/sf). A Confidentiality Agreement is available for download and is required to view financial documents. Please fax to 713-355-4331. Click this link to visit our YouTube property video.

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