101 Macrae Lane, Kirby, TX 78219
Built in 1972, this 29 unit multifamily complex in Kirby, TX is currently operating at an NOI of $91,693 at a 6.55% cap rate and is 96.6% occupied. This is a value-add investment, presenting new ownership with the opportunity to increase rents to market rate. The current average of effective rental rates at this property is $1.05-sf while the average of new move-ins is $1.26-sf. Increasing rents to this market rate will realize an additional $45,000 in annual revenue. Pro Forma NOI is $133,937 at a 9.57% cap rate. For full financials, Offering or Tour Procedures,please view the Offering Memorandum attached in the MLS Transaction Documents.