24341 Ford RdPorter, TX 77365

Property Details for 24341 Ford Rd

Year built

1984

Construction

FRAME

Lot size

1.16 AC

Property size (Sq ft)

6,126 SF

Zone code

5

Property type

Garden apartment buildings

APN

9509-00-08500

APU

95090008500

Description

This exceptional multifamily investment opportunity in Porter, Texas, presents 136 units across 15 buildings, boasting a remarkable 95% occupancy rate. Built in phases between 1984 and 2000, this complex comprises a mix of one- and two-bedroom apartments ranging from 624 to 886 square feet. The property sits on a 7.24-acre lot and features three on-site laundry facilities and a recreation center for residents. Individual utility metering is in place, with services provided by Porter MUD and Porter SUD. Located within the highly sought-after New Caney ISD, the complex enjoys convenient access to major thoroughfares, including easy access to Loop 494, I-69 (Hwy 59), and FM 1314, with Hwy 99 (Grand Pkwy) within three miles. Commuting is simplified by its proximity to Houston and George Bush Intercontinental Airport (IAH), approximately 17 minutes away. Nearby amenities include Valley Ranch Town Center, Northpark Marketplace, and the Grand Texas Entertainment District, offering residents a wealth of shopping, dining, and entertainment options. The property is being sold "As Is Where Is." Appointments are required for viewing.

• CAP approach

  CAP return

  Valuation

  6%

  $2,088,188

  6.5%

  $1,927,559

  7%

  $1,789,876

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,793,470

  Geo Method

  $2,842,798

• Alternative Use

  Use

  Valuation

  Residential

  $1,927,559

  Hospitality

  $1,765,633

  Educational

  $1,468,986

  Medical

  $1,519,507

  Retail

  $2,285,090

Location Insight

City

Porter

County

Montgomery

State

Texas

Latitude

30.097

Longitude

-95.1969

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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