For Sale
$3,450,000

2002 20Th StHuntsville, TX 77340

22 Units, High-Demand Location

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 22-unit Class B multifamily townhome community in Huntsville, Texas, situated near Sam Houston State University. Built in 2018, the property boasts six two-story buildings encompassing 63,510 square feet on a sizable lot of equal size. The property features 24,706 net rentable square feet, with each of the 22 units offering approximately 1,123 square feet of living space. Units include modern finishes and two spacious master suites, each with a private tiled bath. Currently operating at 72% occupancy (as of January 1, 2024), this property offers significant upside potential through increased occupancy and optimized management. The current asking price is $3,450,000, representing a price per unit of $156,818.18 and a current cap rate of 5.00%, with a pro-forma cap rate projected at 7.65% and a pro-forma NOI of $264,000. The property benefits from its proximity to major employers including Sam Houston State University, the Texas Department of Criminal Justice, Huntsville ISD, and Huntsville Memorial Hospital, ensuring a strong tenant pool. This value-add investment requires minimal capital expenditures, presenting a compelling opportunity for significant cash flow growth. The property's strong location and large, desirable units command above-average rental rates within the Huntsville market. Creative financing options may be available.

Highlights

  • 22-unit Class B multifamily townhome community in Huntsville, TX.
  • High-demand units attracting students, faculty, and local workforce.
  • Significant upside potential through increased occupancy and improved management.
  • Strong potential for significant cash flow growth.
  • 2018 construction minimizing future capital expenditures.
  • Spacious two-story units featuring two master suites with private baths.

Property Details for 2002 20Th St

Property type
Apartment buildings
Square Feet
63,510 SF
Class
B
Year Built
2018
Buildings
6
Stories
2
Units
22

Location Insight

City
Huntsville
County
Walker
State
Texas
Latitude
30.7127343
Longitude
-95.5623637
2002 20Th St, Huntsville, Texas

FAQs

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2002 20Th St
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