Current Use by Public Records
- Apartment buildings
Property Details for 2511 Highway 35
- Property type
- Apartment buildings
Description
This exceptional 20-unit apartment building, located at 2511 S Hwy 35 in Alvin, Texas, presents a compelling investment opportunity. Boasting 21,640 square feet on an 81,457 square foot lot, the property currently enjoys a 90% occupancy rate, generating a Net Operating Income (NOI) of $167,574. A pro-forma NOI of $212,738 indicates significant upside potential. The property includes 42 parking spaces, a key amenity for residents. The well-maintained units benefit from low tenant turnover due to a long-term owner's commitment to tenant satisfaction and retention. All units are included in the sale. Situated in the thriving Houston suburb of Alvin, this property benefits from its proximity to major employment centers, including the Port of Houston, and enjoys easy access to recreational opportunities in nearby Kemah, Galveston, and Pearland. The planned expansion of Hwy 35 Bypass into the Grand Parkway is projected to positively impact land value, further enhancing the long-term investment potential. This is a rare opportunity to acquire a stable, high-performing multifamily asset in a rapidly growing market. The property's strong performance, coupled with its strategic location and future development prospects, makes it an ideal addition to any investment portfolio. Detailed financial statements are available upon request.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Alvin
- County
- Brazoria
- State
- Texas
- Longitude
- -95.2476
- Latitude
- 29.3846
