Historical Multifamily Sale Listing - OAK RIDGE APARTMENTS

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OAK RIDGE APARTMENTS

1300 S. Adelaide Street, Terrell, TX 75160

N/A

107 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
107
Building Size:
83,780 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Year Built:
1968
Listing ID
16642596
Last Updated
over 1 year ago

Highlights

  • Economically Irreplaceable Housing Investment
  • Priced Well Below Replacement Value
  • Highly Visible Location With Easy Accessibility
  • Management Controlled Value-Add Investment
  • Potential For Above Market Returns & Appreciation

Description

Oak Ridge Apartments serves a growing "workforce" housing population. Not having any like-kind residential rental housing adjoining Oak Ridge Apartments, ownership has the rare attribute of operating a "control your destiny" property not influenced by neighboring multifamily property. Priced well below replacement costs, Oak Ridge Apartments offers additional security of having an economic barrier to entry to competing supply entering the market at the current rent levels. The property offers residents diversification of housing needs with a variety of unit types available for rent.

The property has excellent frontage accessibility to a major north/south artery of Highway 34 allowing easy access to Interstate 20 to the south and Highway 80 to the north. Oak Ridge Apartments is located just over a mile from Terrell's largest medical hospital, The Renaissance Hospital at Terrell. Additionally, the property is within a two mile radius of shopping, grocers, schools and Terrell's municipal airport.

Map of 1300 S. Adelaide Street, Terrell, TX 75160

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