Sloan Garden Apartments | 6403 Sloan St
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Sloan Garden Apartments 6403 Sloan St
18 Unit Block of Flats £2,488,531 (£138,252/Unit) 5.01% Net Initial Yield Houston, TX 77087
Investment Highlights
- Frame up remodel started 2020 and finished in 2022
- Easy access to 610 Loop, I-45, Hobby Airport and Downtown
- Will consider Owner Financing with 40% down and interest only financing.
- Central HVAC, Quarts Counters, Tile Backsplash, LVT Flooring, Shaker cabinets, Stainless steel appliances and fixtures
- Gated community, on-site maintenance personnel, Laundry room
- 100% Occupied
Executive Summary
100% Occupied. 18-unit gated community fully renovated down to the frame. Each unit has two bedrooms, central HVAC, insulated windows, Quartz counters, tile backsplash, LVT flooring throughout, and on-site maintenance personnel. Centrally located with easy access to 610 and I-45. Each unit comes with a full-size refrigerator. Community laundry room.
Data Room Click Here to Access
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£208,911
|
£13.82
|
| Other Income |
£5,681
|
£0.38
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£214,592
|
£14.19
|
| Taxes |
£22,486
|
£1.49
|
| Operating Expenses |
£69,051
|
£4.57
|
| Total Expenses |
£91,537
|
£6.05
|
| Net Operating Income |
£123,055
|
£8.14
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | £208,911 |
| Annual Per SF | £13.82 |
| Other Income | |
|---|---|
| Annual | £5,681 |
| Annual Per SF | £0.38 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £214,592 |
| Annual Per SF | £14.19 |
| Taxes | |
|---|---|
| Annual | £22,486 |
| Annual Per SF | £1.49 |
| Operating Expenses | |
|---|---|
| Annual | £69,051 |
| Annual Per SF | £4.57 |
| Total Expenses | |
|---|---|
| Annual | £91,537 |
| Annual Per SF | £6.05 |
| Net Operating Income | |
|---|---|
| Annual | £123,055 |
| Annual Per SF | £8.14 |
Property Facts
| Price | £2,488,531 | Apartment Style | Low Rise |
| Price Per Unit | £138,252 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.49 AC |
| Net Initial Yield | 5.01% | Building Size | 15,120 SF |
| Gross Rent Multiplier | 11.83 | Average Occupancy | 100% |
| No. Units | 18 | Number of Floors | 2 |
| Property Type | Residential | Year Built/Renovated | 1970/2021 |
| Property Subtype | Apartment | Parking Ratio | 1.39/1,000 SF |
| Price | £2,488,531 |
| Price Per Unit | £138,252 |
| Sale Type | Investment |
| Net Initial Yield | 5.01% |
| Gross Rent Multiplier | 11.83 |
| No. Units | 18 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 15,120 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built/Renovated | 1970/2021 |
| Parking Ratio | 1.39/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Courtyard
- Laundry Facilities
- Gated
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 18 | £977.64 | 900 |
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PROPERTY TAXES
| Parcel Number | 0590860570015 | Total Assessment | £1,127,126 (2023) |
| Land Assessment | £63,675 (2023) | Annual Taxes | £22,486 (£1.49/sf) |
| Improvements Assessment | £1,063,451 (2023) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
0590860570015
Land Assessment
£63,675 (2023)
Improvements Assessment
£1,063,451 (2023)
Total Assessment
£1,127,126 (2023)
Annual Taxes
£22,486 (£1.49/sf)
Tax Year
2022
zoning
| Zoning Code | None (No zoning in Houston TX) |
| None (No zoning in Houston TX) |
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Sloan Garden Apartments | 6403 Sloan St
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