Welcome to St. George Apartments! This 35-unit apartment consists of 31 x studios, and 4 x one-bedroom units. The property is a turn-key asset that has seen extensive remodeling over the last decade functioning like a new-build, with low overhead. The property has debt that has the potential to be assumed, with three years remaining on the term, at a rate significantly lower than current quotes. Uniquely, all of the units are heated through electric baseboard heat, paid for by the individual residents. This has an immediate positive impact on the NOI, as there’s no boiler, or associated Center Point Energy gas/heat bill. This is a great opportunity to add a classic, turnkey brownstone to your portfolio!
Condo/ Townhome/ Apartment
Built in 1919
Disclaimer: The information contained in this listing has not been verified by DRG and should be verified by the buyer.Information provided by NorthstarMLS