Hollister Apartments

Dickinson, Texas

Hollister Apartments

Dickinson, Texas
  • Units

    156

  • NOI at Acquisition

    < $184,440 >

  • Acquisition Cost

    $6,267,734

  • CURRENT NOI

    $1,374,310

  • Renovation Cost

    $6,029,122

  • Gross IRR

    22.4%

  • Total Cost

    $12,296,856

  • Gross Multiple

    1.8x

PROPERTY DESCRIPTION

Reconstruction of two apartment complexes badly damaged by Hurricane Harvey in 2017. The two properties were 100% vacated and reconstructed into one project (adding eight additional units) along with the conversion of a former commercial building (adding three additional units). Currently 98% leased, the property is in escrow.

Contact Us Sale Pending*