The East Texas 26 Portfolio is situated in Palestine and Bryan-College Station (home of Texas A&M University). The offering includes a 5-Plex and 12 Single Family Rental (SFR) homes located in Palestine, TX; two 4-Plex multifamily assets in College Station, and 1 SFR in Bryan. East Texas 26 is a value-add portfolio in desirable locations with very minimal turnover historically. With 26 total units available for $1,875,000, the price per unit is $72,115.
There is a great amount of value to be created by new Ownership in pushing rents to market supported levels with or without professional management. Ownership currently handles the Palestine assets “In-House”, with third-party management for the Bryan-College Station properties. Current Owners have been selective with screening processes, with no evictions necessary in the past 3 years.
Occupancy is 88.5% with an Effective Gross Yield of 12.8% at a $1.875MM Purchase Price; 14.0% Gross Yield on Market Rent. This Portfolio stands to give investors strong returns and diversification in solid tertiary & secondary markets with great ease of management.