$499,000
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0.4 Acres Lot
SOLD DATE : 12/08/2022
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Buie Hanna Morrow Anson
MLS Listing ID 20148354
Sold Date 12/08/22
HOA Y/N None
Total Fin. Sqft 6367
Year Built 1999
Annual Tax Amount $4,341
Lot Size 0.398 Acres
Acres 0.398
Property Description
The Commercial Apartments is a 12 unit apartment that sits at the crossroads of HWY 277 and 180. This property has seen recent renovations including a new TPO roof, exterior work, and unit upgrades. A few units remain to be upgraded but all units that have been upgraded have new flooring, paint, updated kitchen cabinets, bathrooms, significant HVAC work, granite countertops in several units, new lighting fixtures, appliance packages and new plumbing top outs and plumbing work. The common area was painted and new flooring was added. 8 units are ready to be leased and are currently being pre-leased.
The Commercial Apartments leaves significant value add opportunity which would include renovation of the on-site laundry facilities and finishing the balance of the unit turns. Implementing a Ratio Utility Billback System will increase net operating income and add greater cash flow upon stabilization.
Location
State TX
County Jones
Direction 5 blocks south of the Jones County Courthouse, at the crossroads of HWY 277 and 180. 1704 Commercial Ave. Anson TX.
Interior
Interior Features Multiple Staircases
Heating Central, Electric
Cooling Ceiling Fan(s), Central Air, Electric, Wall Unit(s), Wall/Window Unit(s), Window Unit(s)
Flooring Luxury Vinyl Plank
Appliance Electric Range, Electric Water Heater, Refrigerator
Heat Source Central, Electric
Exterior
Utilities Available City Sewer, City Water
Roof Type Other
Parking Type Alley Access, Common, Gravel
Total Parking Spaces 15
Garage No
Building
Story Two
Foundation Slab
Structure Type Brick,Frame
Schools
School District Anson Isd
Others
Ownership KX Wealth Fund I
Acceptable Financing 1031 Exchange, Cash, Conventional, Owner Will Carry
Listing Terms 1031 Exchange, Cash, Conventional, Owner Will Carry
Financing Contract
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Bought with Jonathan Jones • KW SYNERGY