The Albion Apartments are well located on E. Mulberry St. (Hwy 35) in Angleton, Tx., which is part of the Houston MSA. The property is in the Brazosport market, a sub- market to Houston. The Houston City limits are approximately 29 miles north of the property. The Brazosport area is home to the Dow Chemical Industrial complex. Dow is the largest chemical complex in the world. A few of the top employers that are minutes from the property are; Dow Chemical Company, Fluor Corporation, Zachry Group, Phillips 66, BASF Corporation and Excel. The property is in an area with low apartment density.
Property Information - In recent years the owner has invested approximately $568K in interior and exterior rehab / upgrades which include approximately $247K in interior improvements and approximately 221K in exterior improvements and approximately $100K in HVAC's and appliances. A new owner could see upside with continued interior and exterior improvements.
Upside Potential - A new owner should benefit from strong management and continued upgrades to the property which schould produce upside in the rents post improvements and income stabilization.
Unit Features - Large Spacious 1, 2 and 3 Bedroom Floor Plans, Fully Equipped all Electric Kitchens, Tile, Carpet and Faux Wood Flooring, Window Coverings, Ceiling Fans, Faux Granite Resurfaced Counter-tops, White Appliances, Shower/Bathtub Arrangement, Ceramic Tub and Tile surround, Decorative Bathroom Mirrors, Cable Ready, Wood Cabinets, Dishwasher, Ice-Maker & Garbage Disposal, Walk-in Closets, (Interior appointments vary in each design).
Community Amenities - Pool, Picnic Areas, Gazebo, Ample Surface Parking, Grilling Area, Stand alone Leasing Office with Clubhouse, Cafe Bar, Playground. It is located within Close Proximity of Major Employers, and to award winning schools.