403 Nacogdoches St, Center, TX 75935
- $3,700,000
- 32
- BD
- 32
- BA
- List Price
- $3,700,000
- MLS#
- 21373678
- Status
- ACTIVE
- Type
- Condo
- Subtype
- ResidentialIncome
- Year Built
- 2010
- Construction Status
- Preowned
- Bedrooms
- 32
- Full Baths
- 32
- Acres
- 1.92
- County
- Shelby
- City
- Center
- Subdivision
- Not Applicable
- Building Name
- Town Square Apartments
Property Description
Located in Center, TX, Town Square presents an opportunity to acquire a stabilized, mixed-use investment featuring 24 units consisting of one- and two-bed floorplans alongside 4 commercial office spaces in a modern development completed in 2011. Purpose built to serve both long-term residents and corporate housing demand, most units come fully furnished, and all are equipped with in-unit washers and dryers and internet, offering a true turnkey living experience. With an ideal location walking distance to downtown, Town Square benefits from Shelby County’s various economic drivers including energy, manufacturing and government employment. Additionally, the commercial component provides diversified income with existing tenancy and additional leasing upside. With newer construction, minimal anticipated capital expenditures, a diversified revenue stream, and one of the few professionally managed market-rate apartment communities in the area, Town Square offers investors a combination of stable in-place cash flow and long-term value creation opportunities. Investors can boost NOI by leasing out two vacant office spaces. Owners spent $75k finishing them out, complete with HVAC, electric, plumbing, kitchen, bathrooms, and individual offices. Asking lease rates will be $2,200 for the larger space and $1,700 for the smaller unit, bringing annual gross potential to $46,800. Other value add opportunities include capturing a rent premium through thoughtfully appointed, furnished residences while leveraging flexible lease terms to capitalize demand from corporate and short-term users.
/u.realgeeks.media/texcelrealty/header.png)
Additional Information
- Unexempt Taxes
- $39,781
- Lot Size
- 83,460
- Acres
- 1.92
- Interior Features
- High Speed Internet, Cable TV
- Flooring
- Vinyl
- Foundation
- Slab
- Roof
- Composition
- Stories
- 2
- Pool Features
- None
- Parking Garage
- On Site, Parking Lot
- School District
- Center Isd
- Elementary School
- Center
- Middle School
- Center
- High School
- Center
- Possession
- CloseOfEscrow
Mortgage Calculator
Listing courtesy of Esther Cho from GSFREA LLC. Contact:
Listing provided by North Texas Real Estate Information Systems (NTREIS). Listing data has been deemed reliable but is not guaranteed to be accurate by the MLS.
Last updated: