1501 Poole Ave Port Arthur, TX 77642

This exceptional investment opportunity presents The Pointe, a 226-unit apartment complex situated on 10.33 acres in Port Arthur, Texas. Built in 1967 and extensively renovated in 2020-2021, this Class C garden-style property boasts 14 two-story buildings totaling 187,200 square feet. The complex offers a diverse range of eight floor plans, spanning 650 to 1,150 square feet, including 74 one-bedroom/one-bathroom, 110 two-bedroom/one-bathroom, 22 two-bedroom/one-and-a-half-bathroom, and 20 three-bedroom/two-bathroom units. Recent capital improvements exceeding $1.6 million have enhanced the property, encompassing a renovated clubhouse and leasing office, business center, parking lot repairs, exterior upgrades (paint and wood replacement), water-saving fixtures, plumbing improvements, fencing, HVAC systems, gutters, and landscaping. Currently operating at 77% occupancy (as of November 20, 2023), this distressed sale presents a significant opportunity to increase profitability through a focused leasing strategy. The property is offered fee-simple, free and clear, and is conveniently located just east of Highway 87/Gulfway Drive, near the Intracoastal Waterway and Sabine Lake, approximately 90 miles east of Houston. The property's location, combined with its recent renovations and substantial unit mix, makes it an attractive investment prospect with considerable upside potential.