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Summer House Apartments 4 Stadium Dr

120 Unit Apartment Building For Sale Angleton, TX 77515

Investment Highlights

  • Value Add Opportunity Post Upgrades and further rent increases
  • Approx. $1M in CapX improvements have been completed since January 2020
  • Each Unit has a fire sprinkler system, their are 35 garages and an additional 99 covered spaces as well as open space for parking
  • Minutes away from employment hubs
  • Each unit has individual electric hot water heaters, washer and dryer connections including the appliances, private ground level access
  • The property is adjacent to the new Angleton high school campus as well as its massive sports facility.

Executive Summary

Summer House - is being offered on an "All Cash" basis (Buyer to obtain new financing). The property is a 120 unit, "A" grade, garden style apartment community. It is located in the Angleton area of the Houston MSA. This area has good accessibility to the business district along Hwy 288 and the Hwy 35 bypass (523). The property was built by the current owner and has been well taken care of. The owner has expended $1M in CapEx since January 2020 thru Oct 2023. Each unit has washer and dryer connections with the appliances included as well as individual electric hot water heaters. Summer House has a stand alone leasing office with a clubhouse that includes a kitchen, an exercise room and a large banquet room for tenant functions. The property has 276 parking spaces of which 99 are covered spaces and 35 are detached garages. Some property amenities include - available Cable, Convenient Access to Major Transportation Arteries in the area, Convenient Commute to the Industrial Complex in Freeport and to the employment in Houston, Washer and Dryer Connections including the Appliances in all units (there is no Laundry Facility on site), Ample Parking (Open, Covered and Detached Garages), Sitting and Grilling areas, Pool, Storage, Perimeter Fenced with Access Gates and each unit has Private Ground Access and has a Fire Sprinkler System.

Financial Summary (Pro forma - 2024) Click Here to Access

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2024) Click Here to Access

Gross Rental Income (CAD)
Annual -
Annual Per SF -
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $99,999
Annual Per SF $9.99
Taxes (CAD)
Annual -
Annual Per SF -
Operating Expenses (CAD)
Annual -
Annual Per SF -
Total Expenses (CAD)
Annual $99,999
Annual Per SF $9.99
Net Operating Income (CAD)
Annual $99,999
Annual Per SF $9.99

Property Facts

Sale Type Investment
No. Units 120
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class B
Lot Size 8.85 AC
Building Size 160,000 SF
Average Occupancy 96%
No. Stories 2
Year Built 2014

Unit Amenities

  • Air Conditioning
  • Balcony
  • Cable Ready
  • Dishwasher
  • Disposal
  • Microwave
  • Storage Space
  • Washer/Dryer
  • Washer/Dryer Hookup
  • Heating
  • Ceiling Fans
  • Crown Molding
  • Eat-in Kitchen
  • Kitchen
  • High Speed Internet Access
  • Ice Maker
  • Refrigerator
  • Oven
  • Sprinkler System
  • Range
  • Tub/Shower
  • Walk-In Closets
  • Den
  • Dining Room
  • Family Room
  • Patio

Site Amenities

  • Controlled Access
  • Clubhouse
  • Fenced Lot
  • Fitness Center
  • Gated
  • Cabana
  • Grill
  • Pet Play Area
  • Trash Pickup - Door to Door
  • Wi-Fi
  • Storage Space
  • Pet Washing Station

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 52 $1,728 CAD 724 - 878
2+2 56 $2,079 CAD 999 - 1,219
3+2 12 $2,423 CAD 1,341 - 1,407

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0318-0043-111
Land Assessment
$1,394,660 CAD (2023)
Improvements Assessment
$16,687,820 CAD (2023)
Total Assessment
$18,082,480 CAD (2023)
  • Listing ID: 30723906

  • Date on Market: 2024-01-22

  • Last Updated:

  • Address: 4 Stadium Dr, Angleton, TX 77515

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