Investment Overview

Marcus & Millichap is pleased to present this perfectly positioned 44-unit apartment complex, originally built in 1976 and renovated in 2023. The property boasts beautifully updated interiors and is located at 205 N Columbia Drive, West Columbia, Texas. The complex is comprised of 32 one-bedroom units, 12 two-bedroom units, and a leasing office. Property amenities include on-site management, a leasing office, breakfast bars, and included washer/dryer machines in select units. Since its renovation, the property has seen impressive increases in occupancy and rents, all while operating at a very efficient rate. The property is situated fantastically at the Highway 35 & 36 intersection and will benefit greatly from the current project to double the lane count for Highway 36. Scheduled for completion next year, the project will benefit the property through increased visibility and exposure. This investment opportunity offers immediate stability with a fantastic 95 percent occupancy. This complex is also highlighted by the potential for investors to increase rents by nearly 20 percent, finish upgrading the 16 remaining classic units, and explore other options such as implementing a paid reserved parking program, erecting a fence to offer additional security, or even building a laundry facility on a strip of land included with the property to create even more added value.