218 Plaza Verde Dr, Houston, TX 77038 For Sale

BK Verde is an 80 unit, 2-story, garden style apartment community located in the Greenspoint submarket of Northwest Houston. Note that one unit is used as an office currently. It is possible to rent this unit but it is non revenue now (see Unit Mix). The apartments are located in a quiet, residential neighborhood with surrounding wooded areas that are an appealing feature of the asset. Constructed in 1983, the property offers efficiencies and 1 and 2 bedroom units. The property is conveniently located at I-45 and Beltway 8 and has convenient access to the Houston Intercontinental Airport, Downtown and the Galleria. There are several fine dining and entertainment establishments located in the area.

There are 28 other units in the complex owned by this owner that will be available at a later time. These have been fire damaged and are under construction which should be completed within the next 12 months per the builder. BK Verde has 55% of 182 units in the NVG HOA complex. BK Verde has close to 53% board control which is based on square footage and not on unit count. The total number of units BK Verde owns is 108 and 80 are for sale. 28 fire damaged units will go on sale upon completion. BK Verde owns 55% of the vacant land which will be sold in proportion of the square footage of units purchased. A builder may use the available to build upon HOA approval. Please (see aerial).

Close to key distribution centers like Amazon, Dr Pepper, Coca Cola, Cisco, Reynolds, & HD Supply

Access to major highways

Walking distance to bus stops

Gated community

Washer/dryer connections

$73K or $75K per unit

Seller financing available

Available fire units have been rehabbed