Grand Orchard

Summary:

The Multifamily Group is proud to present Grand Orchard Apartment Homes, an exclusive value-add opportunity in Giddings, Texas.​ Built in 1981, this 56-unit property features spacious two- and three-bedroom floorplans, averaging 895 square feet.​ Grand Orchard is fully occupied, with strong submarket occupancy at 97% (Bastrop - Yardi).​ The property also offers an assumable Fannie Mae loan with a balance of $2,450,000, a 6.30% interest rate, 5 months of interest-only payments remaining, and eight years left on the term.​

Capital Expenditures:

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  All New Roofs in 2021

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  The exterior received a full makeover with new Hardie siding and trim.​

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  Fresh paint was applied both inside and out.​

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  Each unit received a detailed interior renovation, featuring new appliances, vinyl flooring, carpet, and AC units.​

Value-Add:

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  Rebuild building 12 to bring the four down units back online.​ Building 12 burned down before the current owner’s 2023 purchase; it was demolished, and the foundation for the four units is in place.​

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  Increase rents organically by $105/Unit/Month.​

Location:

Grand Orchard Apartment Homes is ideally positioned in Texas’ high-growth “Golden Triangle” between Austin, Houston, San Antonio, and Dallas.​ This location benefits from rapid regional expansion fueled by major developments like the Tesla Gigafactory, SpaceX, and the upcoming X headquarters.​

Situated in Giddings, Lee County, within the resource-rich Eagle Ford and Austin Chalk Shale regions, the area thrives on strong economic drivers, including oil and gas production and the nearby 1,200-employee Samsung semiconductor plant.​ Additionally, the property is adjacent to Altman Plants, a major supplier to retailers like Lowe’s and Home Depot, further driving housing demand.​

With direct access to US-290 and US-77, the property offers excellent connectivity for the residing tenants.​

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  Assumable Fannie Mae Loan at 6.30% Interest - with 5 Months of Interest Only Remaining, and 8 Years Left on the Term

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  100% Occupied

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  $500,000+ in Renovations – All Units Upgraded with New Appliances, AC Units, Vinyl Flooring, and Carpet

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  $1.35MM in Improvement Upside

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  All New Roofs 2021

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  ~$105/Unit/Month Under Market Rents

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  Every Unit has Washer and Dryer Hookups

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  All 2BD and 3BD Units

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  Near Tesla, SpaceX, and Samsung

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  Median HH Income $63,500+ (Data USA)

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  Double Digit Cash-on-Cash Averaged Over 5 Years

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  Giddings ISD is A-Rated by Niche