Magnolia Manor

    • 180 W Texaco Avenue
    • West Columbia, TX 77488

INVESTMENT HIGHLIGHTS

  • Number of Units: 36
  • Occupancy: 92%
  • Class B Apartment Community
  • Sales Price: $3,000,000
  • Acres: 1.75
  • Centrally Located within West Columbia

EXECUTIVE SUMMARY

Independence Commercial Advisors is pleased to present Magnolia Manor, a 36-unit Class B apartment community comprised of 9 two-story buildings in West Columbia, Texas. Built in 1984, Magnolia Manor is centrally located within the city and in close proximity to elementary and high schools, HEB Grocery, and Walmart. Magnolia Manor has had extensive exterior and interior improvements. There continues to be multiple opportunities for property improvements through "next generation" upgrades which could include lighting and fixtures, stainless steel appliances, and additional upgraded counter tops. Property amenities offer additional opportunities for improvements such as a children's play area, dog park, or picnic area. The property is currently third party managed. New debt is available for the property allowing a new owner to maximize returns with various options and offering Cash-on-Cash return of 15.09% with traditional financing.