Towers at Clear Lake

The Towers at Clear Lake is a unique waterfront, atrium-style community consisting of two 7-story, midrise apartment/condo towers. The North Tower consists of 108 units that are rented as apartments but could be converted to condos for resale. The South Tower has been converted to condos by the current owner and consists of 108 units of which 19 are individually owned and the other 89 are rented or are for sale. The community is individually metered for electricity and there is a RUBS in place for water/sewer and trash. There are 3 units ready for sale with a price of $84,000 to $200,000+ and approximately 10 that are 85% complete. The sales prices for the 19 units sold range from $82,500 to over $200,000. The Towers at Clear Lake is one of the best properties in the Clear Lake area poised to take advantage of the up and coming demand for condominium units. It has the advantage of a unique look from the exterior unmatched by any other property in the area. The property sits on the waterfront offering residents beautiful channel/lake views. the large units are attractive to homebuyers looking for an alternatiave to purchasing conventional housing. ***AVAILABLE***

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Bayou Village

PRICE REDUCED!!! EXTRAORDINARILY CLEAN ASSET in a strong rental market! Bayou Village is a 108 unit, garden-style apartment complex, located on Deats Rd., in Dickinson/Texas City, off of I-45 South. 40% of the units have A/C's that are less than 5 years old. Bayou Village contains approximately 1.38 acres of excess land to the south of the property. This is a rectangular parcel that fronts the freeway (I-45) service road. Asking $32,407 per unit ($41.81/sq ft).***A Confidentiality Agreement is available for download and is required to view financials. Please fax to 713-355-4331***UNDER CONTRACT***

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Park Colony

FORECLOSED IN JULY 2010 ~ SELLER EAGER FOR A SALE! Good potential upside. Park Colony is an 86 unit, 1978 vintage, garden-style apartment community in the Steeplechase submarket of northwest Houston. Ideal for the smaller investor. Needs approximately $5,000/unit rehab (a buyer should verify this number). There are approximately 10 down units. A bank loan will require 35% to 40% downpayment. A recent drive-by revealed the need for roof, paint, wood, landscaping and parking lot repairs. There is no current operating data! Asking $15,116 per unit ($18.31/sf).***ALL OFFERS DUE BY 5:00 PM, FRIDAY, 7/23/10***UNDER CONTRACT***

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Imperial Landing

STABILIZED CASH FLOW OPPORTUNITY! Imperial Landing is a very clean, 264 unit, garden-style, 1981 vintage apartment property located in north Houston near the Greenspoint business district. Seller is offering 80% financing at 6% interest with a 30 year amortization. Owner renovated the entire property including new roofs in 2007. The property has always maintained high occupancy. Asking $34,470 per unit ($46.69 per sf).***UNDER CONTRACT***

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Glendale Park

PROPERTY IN RECEIVERSHIP ~ GOOD VALUE ADD DEAL ~ with interior upgrades and the correction of hurricane Ike damage. Available on Assumption / Debt Restructuring (Reduction) for a Qualified Buyer ~ Terms negotiable. The Glendale Park apartment community is located inside of Beltway 8. The property's unit mix consists of 20 different 1, 2 and 3 bedroom floor plans. The Westchase District, Energy Corridor, Memorial City, Sharpstown and the Galleria area, which are major employment centers for Houston, are just minutes from the property. Its location near Beltway 8 (which loops around Houston) and its proximity to Hwy 59 allows the property to have access to the major employment areas of Houston as well as shopping and dining. With strong management and a moderate rehab, a new owner should realize upside in the collections and occupancy.***UNDER CONTRACT***

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