Investment Overview

Marcus & Millichap proudly presents the exclusive listing of River Road Apartments, a value-add opportunity located directly on E Brazos Avenue (State Highway 35) in West Columbia, TX. Residents are within a one-hour drive of Houston and minutes from the Gulf Coast petrochemical corridor. This 21-unit, 71 percent occupied community comprises 20 one-bedroom, one-bath units averaging 408 square feet and a detached 680-square-foot one-bedroom garage unit, with average effective rents of $824. Renovated interiors feature new flooring, updated cabinetry, refreshed bathrooms, and new appliances. Current ownership has invested approximately $69,000 renovating four units, all of which signed leases at $960 per month — a proven premium over in-place rents and a clear, repeatable roadmap for the remaining units. As a result of the completed renovations and the limited supply of apartments in West Columbia, upgraded units have leased quickly at premium rents, validating the underwritten rent roll. A new owner has the opportunity to continue the renovation program across the remaining classic units, capture the demonstrated rent premium, and stabilize the newly added garage unit — driving a Year 1 net operating income of $103,381 and a Year 1 cap rate of 14.77 to 17.23 percent across the pricing guidance range. River Road is strategically positioned with strong street visibility in the heart of West Columbia, minutes from the regional employment base anchored by Dow, BASF, LyondellBasell, Phillips 66, and Freeport LNG.