Stabilized 58-Unit Apartment
For Sale
Contact for pricing
Pending
2333 Lake Rd, Huntsville, TX 77340
58-unit stabilized multifamily property with extensive 2021–2022 exterior and interior renovations.
Days on Market111
Property Features for 2333 Lake Rd
General Information
Standard status
Pending
Property subtype
Multifamily
Occupancy
93%
Additional Details
Cap Rate
6.82%
Multifamily Units
58
Listing Agency:
Waller Group Homes
(214) 818-4109
Listed By:
Logan Waller · License #TX 0479147
Source:
Crexi
Added: Apr 11
Changed: Jul 23
Last Checked: Jul 29 at 11:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Waller Group Homes
Investment Insights
Based on property information with market context.
Offered for sale is a 58-unit apartment community currently described as 93.1% occupied and stabilized. The ownership implemented a capital improvement program in 2021 and 2022 totaling $550,648.92, including exterior upgrades such as siding, brick, steps and stairs, paint, new roof, doors/hardware, and landscaping. Interior renovations included vinyl/tile replacement, paint, new appliances, new electric ranges, new dishwasher, new toilets and plumbing fixtures, upgraded vanities, carpet removal, new kitchen and bathroom cabinets, new granite countertops, and updates to electrical, HVAC, doors and hardware, and plumbing. The unit finishes are identified on the rent roll as 40 renovated “R” units, 13 “C” classic units, and 4 “P” premium units, with no carpet in any renovated units.
The property is located at 2333 Lake Rd, Huntsville, TX, and is described as walking distance and adjacent to Sam Houston State University, with less than 15% of tenants identified as students (8 students total).
Each unit is described as including a kitchen package featuring a Nest thermostat, satin/chrome knobs and fixtures, new toilets, new black appliances, frameless polished edged mirrors in bathrooms, washer/dryer connections even in 1-bedroom units, new sinks, 2-inch faux wood blinds, and vinyl flooring.
The property is located at 2333 Lake Rd, Huntsville, TX, and is described as walking distance and adjacent to Sam Houston State University, with less than 15% of tenants identified as students (8 students total).
Each unit is described as including a kitchen package featuring a Nest thermostat, satin/chrome knobs and fixtures, new toilets, new black appliances, frameless polished edged mirrors in bathrooms, washer/dryer connections even in 1-bedroom units, new sinks, 2-inch faux wood blinds, and vinyl flooring.
Key Highlights
- 58‑unit stabilized multifamily property in Huntsville, TX, 93.1% occupied
- Capital improvement program totals $550,648.92: $82,017.13 (2021) and $468,631.79 (2022)
- Exterior upgrades include new roof plus siding, brick, steps/stairs, paint, doors/hardware, and landscaping
Property Analytics
Current Use
Lease Details
58
Residential units
93.1%
Occupancy
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 77340, TX
35,020
Population
15,230
Households
2.3
Avg Household Size
29
Median Age
29%
College-Educated
89%
High-School Grad
213.1 sq mi
ZIP Area
164
Density / Sq Mi
$46,878
Median Household Income
$24,150
Median Earnings
$992
Median Rent
$229,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 58-unit stabilized multifamily property with extensive 2021–2022 exterior and interior renovations.
Where is this apartment building located?
The property is located at 2333 Lake Rd Huntsville, TX.
What are key features of this property?
This property features: 58‑unit stabilized multifamily property in Huntsville, TX, 93.1% occupied; Capital improvement program totals $550,648.92: $82,017.13 (2021) and $468,631.79 (2022); Exterior upgrades include new roof plus siding, brick, steps/stairs, paint, doors/hardware, and landscaping
