Catylist ID: #30720651
Shadow Bay Apartments
Multi-Family for Sale
|Catylist Listing ID:||30720651|
|Number of Units:||232 Units|
|Building Size (RSF):||167,907 SF|
|Gross Building Area:||See Agent|
|Sale Price:||See Agent|
|Property Use Type:||Investment|
Overview / Comments
The Go-Getters Team at KW Commercial have been exclusively retained by seller to offer Shadow Bay Apartments. They are a well maintained asset with immediate value add potential. Due to the current condition of the units, the next operator will be left with a clean, ready to lease proeprty.
There is only 1 down unit on the entire property. 231 units are rentable as is.
This property currently operates 25% below expected market performance.
The current situation with forbearance due to COVID has weakened the current operation.
Over $3M in CAPEX has been injected into Shadow Bay since 2014 (see CAPEX log)
New owners are granted a property in great condition ready to be leased after forbearance has been lifted.
Attachments & Media
|Nearest MSA:||Bay City|
|Community Amenities:||Outdoor Pool, Recreation Room, Tennis Courts, Play Ground|
|Number of Stories:||2|
|Proximity:||1 mile||3 miles||5 miles|
Greg BrowndKeller Williams Commercial Lubbock West Texas CIE Member
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