82 Unit ● Class C Asset ● Located in Beaumont Texas PARKWAY APARTMENTS ● 155 E. Florida Ave ● Beaumont, TX 77705 Apartments For Sale $2,419,000 Price Per Unit $29,500 Units: 82 Price Per Sq. Ft. $35.84 Avg Size: 823 Stabilized NOI $234,212 Date Built: 1968 Value Capped @ 8.5% $2,755,434 Rentable Sq. Ft.: 67,488 Acreage: 2.71 Occupancy: 90% Class: C+ HIGHLIGHTS ♦ Great Area Job Base! ♦ Upgrades to the Property in the Last 3 Years Include: ♦ Beaumont is a Strong Petrochemical Based Market A/C's, Roofs, Ceramic Tile, HardiPlank Siding, A/C Cages ♦ Property has been Rehabbed ♦ Lamar University is Slowly buying all the Real Estate Adjacent ♦ Good Drive-by and Curb Appeal to the Campus ♦ Well Maintained Smaller Asset in a Strong Area ♦ Please note that Parkway consist of 4 addresses: ♦ Located in Beaumont, Texas Approx 90 Miles East of ♦ 117 North Parkway 24 Units Houston ♦ 120 North Parkway 3 Units ♦ Area Benefits from Texas Gulf Coast Economic Boom ♦ 155 E. Florida Avenue 23 Units ♦ Student Housing Component - on Lamar University Campus ♦ 1140 Georgia 32 Units PLEASE DO NOT VISIT THE PROPERTY OR TALK TO THE STAFF WITHOUT AN APPOINTMENT MADE THROUGH THE BROKER! For More Information Please Contact: Hashir Saleem, Senior Associate
[email protected] l 713-355-4646 l ext 106 KET ENTERPRISES INCORPORATED 4295 San Felipe l Suite 355 l Houston, TX 77027 www.ketent.com Broker License #0406902 PARKWAY APARTMENTS ● 155 E. Florida Ave ● Beaumont, TX 77705 Physical Information Financial Information Proforma Loan Parameters Operating Information Number of Units 82 Asking Price $2,419,000 Proposed Loan at 70% $1,693,300 Est Mkt Rent (Sep-14) $46,900 Avg Unit Size 823 Price Per Unit $29,500 Amortization (months) 300 5 Mo Avg $41,308 Net Rentable Area 67,488 Price Per Sq.