Willis South 205 E Watson St Immeuble residentiel 48 lots 4 759 150 € (99 149 €/Lot) Taux de capitalisation 8 % Willis, TX 77378

Now Offered as a Market-Rate Investment Opportunity
This 48-unit apartment complex in Willis, Texas consists of 40 two-bedroom units and 8 one-bedroom units. Formerly operated under the USDA Rural Development affordable housing program, the property has since transitioned to an unrestricted, market-rate community, offering investors full flexibility in operations and future rent growth.
At the time of the transition, eligible residents were issued USDA vouchers based on prevailing area market rents. Currently, the property benefits from:
8 one-bedroom units receiving $1,063/month vouchers
15 two-bedroom units receiving $1,293/month vouchers
21 two-bedroom units receiving $1,461/month vouchers
The remain units are made up of regular market rate tenants
The complex includes an on-site leasing office and laundry facility, and recently passed a USDA physical inspection with a clean report, reflecting strong physical condition and oversight.
Tenants are responsible for their own electricity, while the property covers water, sewer, and trash services. There is an opportunity to implement a Ratio Utility Billing System (RUBS) to generate additional income and reduce operational expenses.
This asset offers stable cash flow supported by voucher-backed rents, value-add utility recovery potential, and upside through continued rent optimization in a growing Texas market.