155 Plez MorganMontgomery, TX 77356

Property Details for 155 Plez Morgan

Year built

2023

Lot size

7.59 AC

Property size (Sq ft)

71,400 SF

Property type

Apartment buildings

Description

Grand Monarch Apartments, a 72-unit multifamily property in Montgomery, Texas, presents a compelling investment opportunity. Completed in 2023, this garden-style complex boasts 12 three-story buildings situated on a 7.59-acre lot, offering ample green space and a tranquil pond view. The property features a mix of 24 one-bedroom/one-bathroom and 48 two-bedroom/two-bathroom units, each equipped with stainless steel appliances, brushed nickel fixtures, laminate countertops, outside storage, and in-unit washer/dryer connections. Individual electric and HVAC meters ensure efficient utility management. High-quality construction includes wood framing, Hardie board siding, pitched/shingled roofs, and stone exteriors. Projected market rate rents are $1.59 per square foot for one-bedroom units and $1.43 per square foot for two-bedroom units. The property's 71,400 square feet provide significant potential for future amenity additions, such as storage units, a BBQ area, pergola, or dog park, within the existing landscape. This fee-simple property is offered free and clear, presenting a strong foundation for immediate income generation and future growth. The property's location, just north of Highway 105 and west of Lake Conroe, offers convenient access to local amenities and attractions. The property is located at 155 Plez Morgan, Montgomery, TX 77356.

Location Insight

City

Montgomery

County

Montgomery

State

Texas

Latitude

30.4012

Longitude

-95.6962

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