Bermuda Woods

PRICE JUST REDUCED!!! Beautiful townhome project in the close-in Spring Branch area. The community is in good condition with ample drive-by and curb appeal. Great Spring Branch public schools. Park-like setting. Large unit sizes are ideal for a condo conversion, in the opinion of the broker. End units have wood burning fireplaces. The exterior was repainted in 2005 and an irrigation system was installed in the front of the property. Most appliances were replaced in 1996. The loan is potentially resizeable. There appears to be N.O.I. upside potential by capturing a greater percentage of the water and sewer bills and charging for carports. The property does NOT appear to lie in the FEMA 100 year floodplain. Asking $52,069 per unit ($43.79 per sq.ft.).***AVAILABLE***

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Fairfield Cove

***PRICE REDUCED***RECENT FORECLOSURE - NEARLY STABILIZED. Attractive, uniquely landscaped, 135 unit, 1983 vintage, brick and Hardi-Plank multi-family property located in far north Houston near Spring, TX. Occupancy is 88% as of 2/3/10. Excellent access to the Woodlands, 1960, Greenspoint and Willowbrook. New roofs in the last few months. 32 burned units have been razed (including slab) and the vacant area is being redeveloped into a jogging trail/picnic area. All Cash. $28,889 per unit ($38.98/sq.ft.) Good upside potential, post upgrades and stabilization. A Confidentiality Agreement is available for download and is required to view financial documents. Please fax to 713-355-4331.

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Ashford Park

RECENT FORECLOSURE - GOOD VALUE ADD DEAL! Ashford Park is an attractive 180 unit, garden-style apartment propertly located just minutes from the energy corridor in West Houston. Available "All Cash". No owner financing. There are approximately 7 down units according to the management as of 12/23/09. Great location with easy access to I-10 and Beltway 8. Property has low turnover rate; a new owner should see upside in collections with interior upgrades and correction of deferred maintenance. Asking $30,000 per unit ($31.59/sq.ft.).

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Summerfield

EXCELLENT CASH FLOW! Summerfield is a newly renovated, very clean, 110 unit, 1970 vintage, garden-style apartment property located in southwest Houston on Gessner south of Bellaire. The owner has spent over $350,000 on rehab including new roofs in 2006 and new boilers in 2007/2009. The property sustained no roof damage from Hurricane Ike. This property is ideal for the small investor and will be an excellent cash flow candidate for many years to come. Asking $24,545/unit ($27.56/sf).

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Marinette Gardens

***2ND PRICE REDUCTION*** IMMEDIATE CASH FLOW! 193 unit, 3-story, garden-style apartment property located in Southwest Houston near Sharpstown Mall. Property has undergone rehab but still could use upgrading. Blue collar profile and working class property. The rehab estimate shown could provide additional occupancy and rent increase. Note area rents by comparison! The owner has not increased rents during ownership for over 2 years. Ideal property for immediate cash flow with tremendous upside potential. Asking $18,653/unit ($20.36/sq. ft

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