404 E Doc Dodson St, Naples, TX 75568, USA

$750,000
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๐Ÿšจ OFF-MARKET 28 UNIT DEAL โ€“ ~$26K/DOOR ๐Ÿšจ This is a TRUE value-add opportunity with both physical + operational upside already identified. ๐Ÿ“ Naples, TX ๐Ÿข 28 Units ๐Ÿ’ฐ Price: $750,000 (~$25K/unit) ๐Ÿ”ฅ WHY THIS DEAL STANDS OUT: โ€ข Extremely low basis at ~$26K/door โ€ข Value upside via BOTH physical & management improvements โ€ข Only ~64% occupied โ†’ immediate lease-up opportunity โ€ข Avg rents ~$588 โ†’ push to $650โ€“$750 โ€ข ALL BILLS PAID โ†’ convert to tenant-paid utilities ๐Ÿ› ๏ธ MAJOR CAPEX ALREADY DONE: โ€ข โœ… NEW ROOF (2024) WITH WARRANTY โ€ข โœ… NEW PLUMBING / SEWER LINES (2024) โ€ข Long-term ownership (12+ years) ๐Ÿ‘‰ Big-ticket items already handled = less risk, faster upside ๐Ÿ“ˆ LOCATION & DEMAND DRIVERS: โ€ข ~$800M local power plant investment driving jobs & demand โ€ข Minimal competition within ~16 miles โ€ข Grocery + retail within walking distance โ€ข Adjacent to storage + daily-use retail ๐Ÿ’ก THE PLAY: โœ” Increase occupancy to 85โ€“90% โœ” Push rents to market โœ” Bill back utilities โ†’ $100K+ NOI potential โ†’ ~$1M+ stabilized valuation ๐Ÿ“Š CURRENT PERFORMANCE: โ€ข Current NOI: ~$65K โ€ข Underperforming due to management + structure ๐ŸŽฏ PERFECT FOR: โ€ข Value-add investors โ€ข Operators looking for strong yield โ€ข Buyers who understand reposition plays