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Grand Monarch Apartments 155 Plez Morgan

72 Unit Block of Flats £9,468,000 (£131,500/Unit) Montgomery, TX 77356

Executive Summary

Grand Monarch Apartments isa 2023 construction,72-unit garden style
apartment complex located just north of Hwy 105 and west of Lake
Conroe in Montgomery,TX. The property sitson 7.591 acresand
consistsof twelve (12) buildingswith six (6) unitsper building. There are
two (2)floor plans including 24 - 1 bed/1 bath unitsand 48 - 2 bed /2
bacth units.
The community has lotsof green space and overlooksa pond, so it offers
a unique,tranquil setting. The buildingsare 3-story and were
constructed with wood frame,Hardie board,pitched/shingled roofsand
stone on the exterior. The interior unitshave stainlessappliances,
brushed nickel fixtures,laminate counter tops,outside storage and
washer/dryer connectionsw/ machines in every unit. The unitsare
individually metered for electrical and have individual split units for hot
water and air conditioning. There isadditional green space on the
property which could accommodate a new amenity like storage units,
BBQ grill and pergola,dog park,etc.
The property'smarket rate and proforma rentsare projected at $1.59/sf
for 1-bedroom unitsand $1.43/sf for 2-bedroom units.
Grand Monarch isoffered for sale on a fee-simple,free and clear basis.

Property Facts

Price £9,468,000
Price Per Unit £131,500
Sale Type Investment
No. Units 72
Property Type Residential
Property Subtype Apartment
Apartment Style Garden
Building Class B
Lot Size 7.65 AC
Building Size 71,400 SF
Average Occupancy 42%
Number of Floors 3
Year Built 2024

Unit Amenities

  • Air Conditioning
  • Balcony
  • Dishwasher
  • Microwave
  • Washer/Dryer
  • Heating
  • Ceiling Fans
  • Kitchen
  • Refrigerator
  • Oven
  • Stainless Steel Appliances
  • Range
  • Tub/Shower
  • Carpet
  • Freezer
  • Vinyl Flooring

Site Amenities

  • Fenced Lot
  • Storage Space

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 24 £907.35 725
2+2 48 £1,105 975
  • Listing ID: 29678496

  • Date on Market: 02/10/2023

  • Last Updated:

  • Address: 155 Plez Morgan, Montgomery, TX 77356

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