Living / Multi-housing

Raystone Apartments

2604 Avenue K Bay City, Texas United States 77414-6783
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Building Area Net

Asset Description

Jones Lang LaSalle Americas. Inc. or its state-licensed affiliate has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in The Raystone Apartment Homes (“the Property” or “the Asset”), a 33-unit newly built garden-style community with stong cash flows. The community is ideally-located in the heart of Bay City, TX and has operated at consistantly high occupancy of 94%+. New ownership has the opportunity to purchase a strong cash-flowing asset with great rent growth potential in a steady market.

Investment Highlights

Asset Highlights

► Newly built and technologically advanced asset with no comparable

product

► Operating at 95%+ occupancy

► Strong demographic base with rare to no delinquencies

► Large units with an average size of 1,277 SF

► Completely gated and professionally maintained community

► Value-Add opportunity to add 30-40 covered parking spaces and

charge tenants


Location Highlights

► Bay City has shown strong multi-housing fundaments

► 36.5+% of housting units are renter occupied in a 0.5-mile radius

► Surrounded by over 20,000 residents in a 3-mile radius

► Diverse resident base (Teachers, Engineers, Nurses, Police Officers,

Contractors)

Last Updated Date: 17 Feb 2022

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Last Updated Date: 17 Feb 2022

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