Lakefront Multifamily Development
For Sale
$6,990,000
13165 Snow Lane, Willis, TX 77318
Gated lakefront property includes 12 leased 2BR/2BA units and permitted infrastructure for 86 additional units.
Property Size4 SF
Lot Size4.29 Acres
Price / SF$1,747,500
Days on Market1425
Property Features for 13165 Snow Lane
General Information
Standard status
Active
Size
4 SF
Lot size
4.29 Acres
Zoning
Multi-Family
Occupancy
100%
Additional Details
Cap Rate
5.5%
Utilities to Site
Yes
Multifamily Units
12
Listed By:
Clifford Bogart · License #313043
(214) 704-9862
Source:
Expcommercial
Added: Oct 14, 2022
Changed: Sep 5
Last Checked: Sep 7 at 4:38AM
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 Clifford Bogart
Investment Insights
Based on property information with market context.
This gated lakefront property includes 12 existing multifamily/condo units that are 100% leased. All in-place units are configured as 2 bedrooms and 2 bathrooms. The site is described as having water, sewer, bulkhead, and graded infrastructure in place, along with utilities already in place to support development activity.
The property is positioned for expansion with approved entitlements for nine additional buildings and up to 86 additional units, with site plans available. The offering also includes additional acreage described as approximately 3+/- acres of lakefront to be developed. The seller notes the property is outside all flood zones and that there is no MUD tax.
With 4.29 acres total, the development site combines an income-producing component with the ability to build out additional units under the approved plan.
The property is positioned for expansion with approved entitlements for nine additional buildings and up to 86 additional units, with site plans available. The offering also includes additional acreage described as approximately 3+/- acres of lakefront to be developed. The seller notes the property is outside all flood zones and that there is no MUD tax.
With 4.29 acres total, the development site combines an income-producing component with the ability to build out additional units under the approved plan.
Key Highlights
- Gated lakefront development project with 12 existing 2BR/2BA MF/Condo units that are 100% leased
- In‑place NOI of $171,327
- Permitted and underground infrastructure for 86 additional units, with approved site plans and 9 additional buildings
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 77318, TX
17,518
Population
8,654
Households
2
Avg Household Size
44
Median Age
30%
College-Educated
91%
High-School Grad
37.0 sq mi
ZIP Area
473
Density / Sq Mi
$90,246
Median Household Income
$51,428
Median Earnings
$1,209
Median Rent
$288,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Gated lakefront property includes 12 leased 2BR/2BA units and permitted infrastructure for 86 additional units.
Where is this apartment building located?
The property is located at 13165 Snow Lane Willis, TX.
What is the asking price?
The asking price for this property is $6,990,000.
What are key features of this property?
This property features: Gated lakefront development project with 12 existing 2BR/2BA MF/Condo units that are 100% leased; In‑place NOI of $171,327; Permitted and underground infrastructure for 86 additional units, with approved site plans and 9 additional buildings
