River Road Apartments — Sale in West Columbia, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: West Columbia, TX 77486

Photos

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Investment Figures

Cap rate
7.29%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap proudly presents the exclusive listing of River Road Apartments, a value-add opportunity located directly on E Brazos Avenue (State Highway 35) in West Columbia, TX. Residents are within a one-hour drive of Houston and minutes from the Gulf Coast petrochemical corridor. This 21-unit, 71 percent occupied community comprises 20 one-bedroom, one-bath units averaging 408 square feet and a detached 680-square-foot one-bedroom garage unit, with average effective rents of $824. Renovated interiors feature new flooring, updated cabinetry, refreshed bathrooms, and new appliances. Current ownership has invested approximately $69,000 renovating four units, all of which signed leases at $960 per month — a proven premium over in-place rents and a clear, repeatable roadmap for the remaining units. As a result of the completed renovations and the limited supply of apartments in West Columbia, upgraded units have leased quickly at premium rents, validating the underwritten rent roll. A new owner has the opportunity to continue the renovation program across the remaining classic units, capture the demonstrated rent premium, and stabilize the newly added garage unit — driving a Year 1 net operating income of $103,381 and a Year 1 cap rate of 14.77 to 17.23 percent across the pricing guidance range. River Road is strategically positioned with strong street visibility in the heart of West Columbia, minutes from the regional employment base anchored by Dow, BASF, LyondellBasell, Phillips 66, and Freeport LNG. Investment Highlights: • Attractive Entry Price Point - One of the most accessible acquisitions in Brazoria County with immediate cash flow from day one • STRONG IN-PLACE RETURNS - Year 1 NOl of $90,828 delivers approximately a 14% cap rate at the offered price, well above Houston MSA averages • PROVEN RENOVATION PREMIUM: 4 units renovated at ~$69K total capex, all signed at $960/month. clear, repeatable roadmap for the remaining 16 units • IMMEDIATE VALUE-ADD

Market Context

This multifamily in West Columbia, TX is listed for sale. It is offered at an approximate 7.3% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in West Columbia, TX — view the full market.

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