Shadow Bay Apartments

Multi-Family for Sale
Catylist Listing ID: 30720651
Property Subtypes: Low-Rise/Garden
Number of Units: 232 Units
Building Size (RSF): 167,907 SF
Gross Building Area: See Agent
Sale Price: See Agent
Property Use Type: Investment
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 4/12/2021

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.

Additional Details

Nearest MSA: Bay City
County: Matagorda
Tax ID/APN: 12502
Community Amenities: Outdoor Pool, Recreation Room, Tennis Courts, Play Ground
Number of Stories: 2
Year Built: 1978

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,964 17,158 17,955
Median Age: 35.47 35.45 35.93
Households: 3,196 6,448 6,787


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