Description
The Contessa Apartments in Portland comprise a landmark complex in a central part of booming Portland. With a steady NOI margin, it's a rare opportunity in Portland, and enjoys consistent 85-90%+ Occupancy rates with easy potential for more. Value-add growth potential is also here with updates. The 64-unit complex is broken into 8 buildings of 8 units each, and all are 2-story buildings with downstairs units and upstairs units. The 4.49 acre lot gives room between buildings, a central "park" area, and plenty of parking all around the complex. There is a managing office, card laundry room, and Owner's Suite 1/1 for Manager or Owner to stay in behind the office. The location puts this within 1 mile of HEB grocery store, the Portland Municipal Park & baseball fields, CVS, restaurants, shopping, medical offices, gas stations, Hwy. 181, and Gregory-Portland high school, middle school, and TM Clark Elementary. The full-time maintenance crew and office manager may be happy to continue on with a new owner. Water is all paid by Landlord for whole complex, electric is on separate meters and set up by Tenants individually.
Details
| MLS # | 482480 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1976 |
| Days On Site | 35 |
| Listing Provided By | Cass Real Estate | Brenton Reagan |
Features
| Bed(s) | 120 |
|---|---|
| Bath(s) | 64 Total |
| SQ Feet | 59,159 |
| Story(s) | 2 |
| Units | 3 |
| Building(s) | 9 |
| Acreage | 4.49 |
Exterior
| Lot Features | Interior Lot |
|---|
Parking
| Parking Features | Asphalt, Front Entry, Rear Side Off Street, On Street |
|---|
Taxes
| Tax Annual Amount | 118227 |
|---|
Location
| Community Features | Sidewalks |
|---|
Area Information
| State | TX |
|---|---|
| County | San Patricio |
| City | Portland |
| Zip Code | 78374 |
| Community Name | Gregory Paul Sub Cfp Co |
| Listing VS Median (in Gregory Paul Sub Cfp Co) | |
Price: $4,900,000 low | high Med: $587,450 sqft: 59,159 low | high Med: 2,529 $ / sqft: $83 low | high Med: $240 On site: 35 low | high Med: 33.5 | |
Market Activity 78374
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Learn More About This Property
| State | TX |
|---|---|
| County | San Patricio |
| City | Portland |
| Zip Code | 78374 |
| Community Name | Gregory Paul Sub Cfp Co |
| Listing VS Median (in Gregory Paul Sub Cfp Co) | |
Price: $4,900,000 low | high Med: $587,450 sqft: 59,159 low | high Med: 2,529 $ / sqft: $83 low | high Med: $240 On site: 35 low | high Med: 33.5 | |
