1 / 1624-Unit Multifamily in Montgomery, TX
Montgomery County, TX · listed Mar 6, 2026 (236 days)
▼ Reduced 16.7% on Oct 12, 2026, was $3,000,000
- $/unit
- $104,167
- ▲ 4% vs TX · 52nd pct
- Cap rate
- —
- Gross yield
- —
- Units
- 24
- 2 bldg · 1980
Financials
- Asking price
- $2,500,000
- Price per unit
- $104,167
- Price per sq ft
- $50
- Gross rent / year
- Not stated
- Net operating income
- Not stated
- NOI per unit
- Not stated
- Cap rate
- Not stated
- Gross yield
- Not stated
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 24
- Unit mix
- Not stated
- Buildings
- 2
- Year built
- 1980
- Building size
- 49,918 sq ft
- Avg unit size
- 2,080 sq ft
- Lot size
- 3 acres
- Condition
- Value-add
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Mar 6, 2026
- Days on market
- 236 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Oct 12, 2026: $3M → $2.5M
- Location
- Approximate (~0.5 mi)
- Listing #
- 1139
About this property
This is a rare opportunity to acquire a waterfront commercial investment property on Lake Conroe, located inside the prestigious April Sound Golf & Country Club community at (address on request), Montgomery, Texas.
The property consists of two multi-tenant buildings totaling 24 units (12 units per building) situated within a manned, gated community—an extremely uncommon feature for commercial property on Lake Conroe. The location offers strong visibility, high-income demographics, and limited competing inventory in a secure waterfront environment.
With the right repositioning strategy, this asset presents significant value-add potential through renovations, operational improvements, and lease-up opportunities. Investors can capitalize on the supply-constrained waterfront market while benefiting from the prestige and built-in demand associated with April Sound.
Positioned near the April Sound Golf & Country Club, the property enjoys access to a steady base of residents, visitors, and high-end lakefront homeowners—making it an attractive location for service businesses, boutique retail, or professional offices.
Access the Deal Room:
Financials, rent roll, documents, and due diligence materials are available in the secure deal room:
Area Description
- Inside April Sound Gated Community – Located within the prestigious April Sound Golf & Country Club on Lake Conroe.
- Strong Local Demographics – Surrounded by established residential neighborhoods and waterfront homes.
- Limited Waterfront Commercial Supply – Few commercial properties exist inside gated lake communities.
- Tourism & Recreation Area – Lake Conroe attracts steady visitors for boating, golf, and lake activities.
- Growing Montgomery County Market – Continued population and housing growth supports long-term demand.
Rare Lake Conroe Waterfront Investment
Highlights
- 24Unit Value Add Inside Gated April Sound – Rare multifamily control in a prestigious, manned gated Lake Conroe community.
- Clear Path to Stabilization & Rent Growth – Renovation driven upside with defined lease up strategy and operational lift.
- Supply Constrained Waterfront Market – Limited competing inventory within gated communities supports long term pricing power.
- Multiple Exit Strategies – Stabilize and refinance, hold for appreciation, or explore individual unit selloff potential.
- Experienced Operator Opportunity – This opportunity is best suited for principals with direct experience in multifamily repositioning, capital
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
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|---|---|---|---|
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