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Mira Vista 12803 Northborough Dr 352 Unit Apartment Building For Sale Houston, TX 77067
INVESTMENT HIGHLIGHTS
- Property is in Bankruptcy and is Being Sold As Is. There Will Be No Insurance Proceeds.
- Blue-Collar Profile
- Rehabbed in 2017 and 2018
- Located in the Greenspoint/Aldine Area of North Houston
- Easy Access to I-45 and Beltway 8
- Excellent Value Add Potential
EXECUTIVE SUMMARY
The Mira Vista Apartments, is a two story, garden-style, apartment community, formerly known as OakBend, located in the Greenspoint/Aldine sub-market of north Houston, Texas. The asset was built in 1979 and per owner, was rehabbed in 2017. Residents enjoy ample amenities which include: mini-blinds, kitchen pantries, ceiling fans, laundry facilities, patios and balconies and walk-in closets.
Per owner, the property is in bankruptcy and the court has ordered a sale. It is being sold as is and there will be no insurance proceeds.
There is no RUBS. Implementation of a water RUBS could generate additional income.
A recent site visit revealed, one building of 16 units had a major fire recently and is boarded up. It may cost approximately $50k/door to fix. There are two more units down but not as bad than the burn units. The parking lot looked ok. The property probably needs an exterior paint job and some stucco work.
Known for the many businesses in the area, the Greater Greenspoint represents a diverse area and a number of neighborhoods that are bisected by Interstate 45. Greater Greenspoint has a lower cost of living than many of the surrounding communities. Families migrate to this area to enjoy the great schools and amenities, but renters of every walk of life will appreciate the array of apartments and nearby conveniences. This neighborhood lies 20 minutes outside of Downtown Houston, meaning a night out or a fun-filled afternoon is well within reach.
Per owner, the property is in bankruptcy and the court has ordered a sale. It is being sold as is and there will be no insurance proceeds.
There is no RUBS. Implementation of a water RUBS could generate additional income.
A recent site visit revealed, one building of 16 units had a major fire recently and is boarded up. It may cost approximately $50k/door to fix. There are two more units down but not as bad than the burn units. The parking lot looked ok. The property probably needs an exterior paint job and some stucco work.
Known for the many businesses in the area, the Greater Greenspoint represents a diverse area and a number of neighborhoods that are bisected by Interstate 45. Greater Greenspoint has a lower cost of living than many of the surrounding communities. Families migrate to this area to enjoy the great schools and amenities, but renters of every walk of life will appreciate the array of apartments and nearby conveniences. This neighborhood lies 20 minutes outside of Downtown Houston, meaning a night out or a fun-filled afternoon is well within reach.
PROPERTY FACTS
| Sale Type | Investment | Building Class | C |
| Sale Condition | Distress Sale | Lot Size | 9.82 AC |
| No. Units | 352 | Building Size | 237,972 SF |
| Property Type | Multifamily | Average Occupancy | 83% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1979/2011 |
| Zoning | N/Av, Houston | ||
| Sale Type | Investment |
| Sale Condition | Distress Sale |
| No. Units | 352 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 9.82 AC |
| Building Size | 237,972 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built/Renovated | 1979/2011 |
| Zoning | N/Av, Houston |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Fireplace
- Ceiling Fans
- Refrigerator
- Walk-In Closets
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Property Manager on Site
- Spa
- Tenant Controlled HVAC
- Tennis Court
- Gated
- Basketball Court
- Maintenance on site
PROPERTY TAXES
| Parcel Number | 1127570000001 | Improvements Assessment | $20,023,462 CAD |
| Land Assessment | $2,681,655 CAD | Total Assessment | $22,705,117 CAD |
PROPERTY TAXES
Parcel Number
1127570000001
Land Assessment
$2,681,655 CAD
Improvements Assessment
$20,023,462 CAD
Total Assessment
$22,705,117 CAD
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Mira Vista | 12803 Northborough Dr
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