Grand Orchard 1105 Westwood Ln Immeuble residentiel 56 lots À vendre Giddings, TX 78942

Summary:
The Multifamily Group is proud to present Grand Orchard Apartment Homes, an exclusive value-add opportunity in Giddings, Texas. Built in 1981, this 56-unit property features spacious two- and three-bedroom floorplans, averaging 895 square feet. Grand Orchard is fully occupied, with strong submarket occupancy at 97% (Bastrop - Yardi). The property also offers an assumable Fannie Mae loan with a balance of $2,450,000, a 6.30% interest rate, 5 months of interest-only payments remaining, and eight years left on the term.
Capital Expenditures:
- All New Roofs in 2021
- The exterior received a full makeover with new Hardie siding and trim.
- Fresh paint was applied both inside and out.
- Each unit received a detailed interior renovation, featuring new appliances, vinyl flooring, carpet, and AC units.
Value-Add:
- Rebuild building 12 to bring the four down units back online. Building 12 burned down before the current owner’s 2023 purchase; it was demolished, and the foundation for the four units is in place.
- Increase rents organically by $105/Unit/Month.
Location:
Grand Orchard Apartment Homes is ideally positioned in Texas’ high-growth “Golden Triangle” between Austin, Houston, San Antonio, and Dallas. This location benefits from rapid regional expansion fueled by major developments like the Tesla Gigafactory, SpaceX, and the upcoming X headquarters.
Situated in Giddings, Lee County, within the resource-rich Eagle Ford and Austin Chalk Shale regions, the area thrives on strong economic drivers, including oil and gas production and the nearby 1,200-employee Samsung semiconductor plant. Additionally, the property is adjacent to Altman Plants, a major supplier to retailers like Lowe’s and Home Depot, further driving housing demand.
With direct access to US-290 and US-77, the property offers excellent connectivity for the residing tenants.