155 Plez Morgan Montgomery, TX 77356
- Apartment buildings
- 71,400 SF
- 7.59 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 155 Plez Morgan
- Year built
- 2023
- Lot size
- 7.59 lot acres
- Property size
- 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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Montgomery
- County
- Montgomery
- State
- Texas
- Longitude
- -95.6962
- Latitude
- 30.4012
