Colores Del Sol

    • 1114 25th Street & 2722 Buford Street
    • Corpus Christi, TX

INVESTMENT HIGHLIGHTS

  • Centrally Located within City and in Opportunity Zone
  • Class C Property Built in 1977/ 92% Occupied
  • Potential 16.7% CoC/ 27.2% IRR (5 Year Hold)
  • 22 of 36 Units have been Upgraded
  • Priced at $2,995,000 Or $83,195 Per Door

EXECUTIVE SUMMARY

Independence Commercial Advisors is pleased to present Colores Del Sol, a 36-unit Class C apartment community comprised of 2 two-story buildings in Corpus Christi, Texas. Built in 1977, Colores Del Sol is centrally located within the city and very close proximity to the elementary, high schools, Del Mar Community College campuses, Texas A&M - Corpus Christi location, HEB, Walmart, downtown, hospitals, Ocean Drive, retail, etc. Colores Del Sol has undergone some exterior/interior renovations but there continues to be multiple opportunities for property improvements through renovations of remaining 15 “classic” units. Property amenities offer additional opportunities for improvements such as a children’s play area or dog park. New debt is available for the property allowing a new owner to maximize returns with various options and offering a potential five year IRR of 27.2% with traditional financing.