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Veranda Village Apartments – Unmissable Value-Add Opportunity in Pasadena, TX

Texas Property Listings
November 26, 2024•1 min read
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Property Overview:

📍 Address:  Shaver St, Pasadena, TX 77504
🏢 Buildings: 8 on one parcel
🏘️ Units: 306 (originally 330; 24 units lost to fire—slab remains)
💸 Purchase Price: $27,010,000
💵 Monthly Income: $250,723
📅 Annual Gross Rental Income: $3,030,825

📊 Financial Highlights:

MetricAmountAnnual Taxes$493,178Annual Insurance$145,926Annual Expenses (Total)$1,600,084Expenses (Excluding Taxes/Insurance)$960,979NOI (Net Operating Income)$2,069,846Cap Rate7.96%

💰 Deal Highlights:

🏗️ Value-Add Opportunity:

  • 24 burned units present redevelopment potential for additional income.

  • Existing slab simplifies rebuilding efforts and reduces costs.

📈 Stable Cash Flow:

  • Monthly Income: $250,723 ensures consistent revenue.

  • Current operations generate a solid NOI of $2,069,846 annually.

💡 Seller Financing Available:

  • 30% Down Payment Required: Approx. $8,103,000 upfront.

  • Flexible terms with the seller retaining the 1st lien position.

🌟 Prime Location:

  • Located in Pasadena, TX, near major highways, retail centers, and employment hubs.

📈 Return Analysis:

Cap Rate:

Cap Rate=7.96%

Cash-on-Cash Return (30% Down Payment):

25.55%

🚀 Potential Upside:

✅ Redevelop Burned Units:

  • Rental income potential = $820/month per unit.

  • Additional Income: $236,160 annually if 24 units are rebuilt.

✅ Market Rent Adjustments: Opportunity to increase rents for underperforming units.

✅ Operational Efficiencies: Streamline operations to optimize expenses and enhance cash flow.

🌟 Opportunities for Growth:

  1. Add Back Units: Redeveloping 24 burned units could push the cap rate above 9%.

  2. Leverage Location: Pasadena is a rapidly growing area, ensuring strong tenant demand.

  3. Maximize Financing: Seller financing terms provide flexibility to investors.

Contact Information:

📞 Contact JNA Dynamic Holdings LLC at 469-949-3363 for additional details or to submit your proof of funds.
📧 Email: [email protected]

💡 Investor Note: With stable cash flow, seller financing, and value-add potential, this property offers everything you need to achieve exceptional returns. Don’t miss this opportunity to invest in a prime location with redevelopment potential! 🔑✨

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