Lakeside Apartments

    • 600 Lakeside Boulevard
    • Brownsville, TX 78520

INVESTMENT HIGHLIGHTS

  • Occupancy 98%
  • Location off I-69 / Boca Chica Boulevard Provides Convenient Access Throughout the City
  • Well Maintained and Low Density Location with a Lakeside Setting
  • Strong Historical Performance and Submarket Fundamentals
  • Interior and Community Value-Add Potential - Opportunity to Upgrade 50 Units all in Classic Condition with a Light Unit Enhancement Renovation Scope for $75 per Unit Premiums
  • Limited Submarket Supply and Strong Demand Providing a Runway for Organic Rent Growth

EXECUTIVE SUMMARY

Independence Commercial Advisors presents investors the opportunity to acquire 50-multifamily units below replacement cost located in Brownsville/Cameron County, Texas. Built in 1965, this 50-unit multifamily property has approximately 41,600-square feet of net-rentable area and is situated on a little over seven acres of land. The property sits along a beautiful Resaca (type of ox-bow lake) former channels of the Rio Grande, providing water views for many residents. This asset also offers an on-site laundry facility and a swimming pool. Lakeside Apartments has frontage along Lakeside Boulevard near Central Boulevard and Boca Chica Boulevard, in which numerous retailers, grocery stores, and restaurants reside. There is also a major hospital, Valley Baptist Medical Center, about half a mile away. Brownsville South Padre Island International Airport is about six miles away and provides daily nonstop flights to Houston, San Antonio, Dallas, and Austin. The property is also about a 45-minute drive from South Padre Island and about three miles away from The University of Texas Rio Grande Valley providing an easy commute for students.

ACCESS DOCUMENT CENTER