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1300/1350 Harvey Mitchell Pkwy South College Station, TX 77840

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Recently renovated apartments with potential for further upgrades and increased revenue.

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Listing Contact
Ryan Lang
Source: Nmrk

Listing Agent: Ryan Lang

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Renovated Apartments with Value-Add Upside

Between 2021 and 2022, the property underwent significant renovations, with an investment of $5.1 million to upgrade all units and community amenities at 2818 Apartments. These renovations resulted in post-renovation premiums of $54 per bed. A light value-add upgrade was also completed at Parkway Place in 2022, affecting 16 units, or 11% of the unit mix, with stainless steel appliances, new paint, flooring, and doors. There is an opportunity to renovate the remaining units at Parkway Place with new flooring, granite countertops, modern fixtures, updated hardware, and refreshed furniture packages. The renovated 4x4 units at 2818 Apartments are achieving a $66/bed premium compared to Parkway Place. Additional value can be added by upgrading common areas and amenities at Parkway Place, including enhancing the fitness center, refreshing the pool deck with modern furniture and grilling stations, upgrading the game room, and broadly revitalizing community spaces. The property is located in College Station, TX.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Restaurant Realty agency Building Supply Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Gym & Fitness Kitchen & Bath Food Market

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
College Station
County
Brazos
State
Texas
Longitude
-96.341892
Latitude
30.584805

FAQs

What type of property is this?
Apartment building - Recently renovated apartments with potential for further upgrades and increased revenue.
Where is this apartment building located?
The property is located at 1300/1350 Harvey Mitchell Pkwy South College Station, TX.
What are key features of this property?
This property features: - Significant value-add potential: Renovate remaining units at Parkway Place, mirroring the successful 2818 Apartments renovation.; - Proven renovation success: A $5.1M investment in 2818 Apartments resulted in a $54 per bed post-renovation premium.; - Demonstrated premium increase: Renovated units at 2818 Apartments achieve a $66/bed premium compared to Parkway Place.
More about this property
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