Portland, TX 78374
410 Lang Road
$4,900,000
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Property Overview
About 410 Lang Road
The Contessa Apartments in Portland comprise a landmark complex in a central part of booming Portland. With a steady NOI margin, it's a rare opportunity in Portland, and enjoys consistent 85-90%+ Occupancy rates with easy potential for more. Value-add growth potential is also here with updates. The 64-unit complex is broken into 8 buildings of 8 units each, and all are 2-story buildings with downstairs units and upstairs units. The 4.49 acre lot gives room between buildings, a central "park" area, and plenty of parking all around the complex. There is a managing office, card laundry room, and Owner's Suite 1/1 for Manager or Owner to stay in behind the office. The location puts this within 1 mile of HEB grocery store, the Portland Municipal Park & baseball fields, CVS, restaurants, shopping, medical offices, gas stations, Hwy. 181, and Gregory-Portland high school, middle school, and TM Clark Elementary. The full-time maintenance crew and office manager may be happy to continue on with a new owner. Water is all paid by Landlord for whole complex, electric is on separate meters and set up by Tenants individually.
Property Highlights
- Status
- Active
- Price
- $4,900,000
- Property Type
- Apartment
- Bedrooms
- 120
- Bathrooms
- 64
- Living Area
- 59,159 Sq Ft
- Lot Size
- 4.49 Acres
- Year Built
- 1976
- Subdivision
- Gregory-Paul Sub Cfp Co
- School District
- Gregory Portland ISD
- MLS / Listing ID
- 482480
Listing attribution: Courtesy of Cass Real Estate · Brenton Reagan.
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Marci Peck
REALTOR® · TREC #0723266
Corpus Christi Realty Group
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Before you make an offer
Ask for windstorm certificates on the roof, windows and any additions; San Patricio and Aransas are coastal windstorm counties. Check the flood zone and ask for an elevation certificate, especially near the bays and canals. On canal and waterfront homes, have the dock, boat lift and shoreline structures inspected, and ask about canal depth at low water. In Rockport, ask for permits and repair records on homes rebuilt after Hurricane Harvey. If you plan to rent the home out, check the city's short-term rental rules and any HOA rules first. Outside city limits, confirm whether the home is on sewer or septic.
Windstorm insurance and flood zones vary by property; Marci can point you to the right specialist. This isn't insurance or legal advice.
Good to know
Winter and spring northers can push water out of the shallow bays and canals for days, dropping levels well below normal. Waterfront buyers should ask about canal depth at low water before counting on year-round boat access.