Multifamily

Willow Creek

105 Michael Dr, Buffalo, TX 75831

Listing Price: $3,000,000

Cap Rate
7.58%
Number of Units
60
GRM
6.73
Occupancy
84.21%
Price/Unit
$50,000
Price/Gross SF
$62.50
Gross SF
48,000

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of Willow Creek Residences.

Built in 1984, Willow Creek sits on 2.76 acres, and is conveniently located near the intersection of US Highway 79 and Interstate 45 in Buffalo, Texas. The property resides on a quiet street behind Citizens State Bank, and a short drive from Brookshire Brothers Grocery, Downtown Buffalo, and Buffalo ISD.

The 60-unit community has been completely renovated with ownership spending $1,000,000 in total capital expenditures. The luxurious upgrades feature two-bedroom units with faux hardwood flooring, new countertops, black energy efficient appliances, designer cabinetry, upgraded lighting, and washer and dryer connections. Additionally, all roofs were replaced or repaired in 2019 and 83 percent of the HVAC units are less than five-years old.

With an updated tenant profile and stabilized occupancy, Willow Creek presents the opportunity to generate positive cash flow while increasing investment returns through the renovation of the remaining units, efficient management, and reduction of loss-to-lease.

Willow Creek is offered for All Cash, which provides an excellent opportunity to take advantage of historically low rates.

Investment Highlights

  • Convenient Location Along Interstate 45 Corridor
  • Approximately $800,000 in Capital Improvements
  • Value Enhancement With Proven $200 Premium
  • Expense Reduction With Stabilization
  • All Cash Offering With Attractive Financing Options

Exclusively Listed By

Listing Price: $3,000,000

Cap Rate
7.58%
Number of Units
60
GRM
6.73
Occupancy
84.21%
Price/Unit
$50,000
Price/Gross SF
$62.50
Gross SF
48,000

Investment Highlights

  • Convenient Location Along Interstate 45 Corridor
  • Approximately $800,000 in Capital Improvements
  • Value Enhancement With Proven $200 Premium
  • Expense Reduction With Stabilization
  • All Cash Offering With Attractive Financing Options

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of Willow Creek Residences.

Built in 1984, Willow Creek sits on 2.76 acres, and is conveniently located near the intersection of US Highway 79 and Interstate 45 in Buffalo, Texas. The property resides on a quiet street behind Citizens State Bank, and a short drive from Brookshire Brothers Grocery, Downtown Buffalo, and Buffalo ISD.

The 60-unit community has been completely renovated with ownership spending $1,000,000 in total capital expenditures. The luxurious upgrades feature two-bedroom units with faux hardwood flooring, new countertops, black energy efficient appliances, designer cabinetry, upgraded lighting, and washer and dryer connections. Additionally, all roofs were replaced or repaired in 2019 and 83 percent of the HVAC units are less than five-years old.

With an updated tenant profile and stabilized occupancy, Willow Creek presents the opportunity to generate positive cash flow while increasing investment returns through the renovation of the remaining units, efficient management, and reduction of loss-to-lease.

Willow Creek is offered for All Cash, which provides an excellent opportunity to take advantage of historically low rates.

Exclusively Listed By

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