113 American Dr

Description

Multi-Unit extended stay rental community in Cotulla, TX - A Prime Opportunity! This beautiful 56-unit custom built housing property sits on 9.87 acres and offers a mix of efficiency units, duplexes, and three-bedroom single-family homes-ideal for short- or long-term rentals. A beautiful recreation center enhances tenant appeal. Strategically located in Cotulla, a hub for oil and gas activity, this income-producing property is perfect for companies or investors seeking stable cash flow. Don't miss out on this high-demand housing solution in the heart of the Eagle Ford Shale. The Sellers have recently reduced the price to $4,900,000, creating an even more compelling investment opportunity. Key highlights include: New Roofs in 2024: All units have been recently updated with new roofing, reflecting the Seller's commitment to maintaining the property in excellent condition. Experienced Onsite Management: A long-standing onsite management team-a mother and daughter duo-have overseen operations for over a decade. Their deep familiarity with the tenant base provides consistent occupancy and efficient oversight. Rent Increase Scheduled: Rents are set to increase by 10% in September 2025, marking the first adjustment since 2020. Reduced Banking Fees: A switch to Zego Paylease is projected to reduce credit card related expenses by approximately $40,000 annually. These changes-combined with the price reduction, improved rental income, and lower expenses-result in a pro forma cap rate north of 9.00%.