404 E Doc Dodson St

🚨 OFF-MARKET 28 UNIT DEAL – ~$26K/DOOR 🚨 This is a TRUE value-add opportunity with both physical + operational upside already identified. 📍 Naples, TX 🏢 28 Units 💰 Price: $750,000 (~$25K/unit) 🔥 WHY THIS DEAL STANDS OUT: • Extremely low basis at ~$26K/door • Value upside via BOTH physical & management improvements • Only ~64% occupied → immediate lease-up opportunity • Avg rents ~$588 → push to $650–$750 • ALL BILLS PAID → convert to tenant-paid utilities 🛠️ MAJOR CAPEX ALREADY DONE: • ✅ NEW ROOF (2024) WITH WARRANTY • ✅ NEW PLUMBING / SEWER LINES (2024) • Long-term ownership (12+ years) 👉 Big-ticket items already handled = less risk, faster upside 📈 LOCATION & DEMAND DRIVERS: • ~$800M local power plant investment driving jobs & demand • Minimal competition within ~16 miles • Grocery + retail within walking distance • Adjacent to storage + daily-use retail 💡 THE PLAY: ✔ Increase occupancy to 85–90% ✔ Push rents to market ✔ Bill back utilities → $100K+ NOI potential → ~$1M+ stabilized valuation 📊 CURRENT PERFORMANCE: • Current NOI: ~$65K • Underperforming due to management + structure 🎯 PERFECT FOR: • Value-add investors • Operators looking for strong yield • Buyers who understand reposition plays