Cozy Cottages of Elmendorf 8325 FM 327 9 Unit Apartment Building $893,389 CAD ($99,265 CAD/Unit) Elmendorf, TX 78112

This 8-unit manufactured housing community provides significant upside potential for new ownership. The Cozy Cottages have been remodeled and well maintained, and cared for, ensuring a hassle-free transition for new owners. With proactive management of repairs and upgrades, this property offers investors ease of ownership and peace of mind. The Cottages are situated in a submarket with robust fundamentals, and benefit from a stable and growing rental market, along with being located close to employment centers in the growing vicinity of Elmendorf - such as a large Home Depot Distribution Warehouse, Semi Truck Manufacturer Navistar, and several others. There are three major thoroughfares within seven miles of the property, including Interstates 37 and 410 and Loop 1604.
The Cozy Cottages of Elmendorf also boasts not only minimal deferred maintenance but also a significant increase in rental income over the past year. All units have undergone significant remodeling. New owners have the opportunity to maintain this trend by continuing to lease units at rates already being captured and proven. Additionally, The Cottages have City Water, four septic systems, and 94 solar panels ($90,000 + Paid Off and convey) on the property, for low monthly utility bills.
Buyers could be a multi-family investor or a family that wants multi-generational living. The property is ready for new ownership in either category.