100 E 12th St
Joshua, TX 76058
The Cottages Apartments · Multifamily Property For Sale · 18 Units

The Cottages Apartments is an 18-unit, Class C, multifamily, value-add asset located at 100 East 12th Street in Joshua, Texas. Built in 1910, the property is at the corner of North/South Main and 12th Street. The property is located in the heart of Joshua, Texas, adjacent to Joshua City Hall, and Joshua Police Station. It is situated near restaurants, retail, and schools such as H.D. Staples Elementary, A.G. Elder Elementary, and Joshua High School. Joshua is less than 30 minutes south of downtown Fort Worth. The Cottages is less than a mile from TX-174 and two miles from the Chisholm Trail Parkway. The Cottages Apartments has a unique unit mix of 50 percent efficiencies, 45 percent one-bedroom/one-bath, and 5 percent two-bedroom/one-bath. Floor plans range in size from 550 square feet to 700 square feet with an average of 583 square feet. The property is currently 100 percent occupied. Unit amenities include, but are not limited to, central heating and air conditioning (in select units), fully equipped kitchens, spacious closets, and wall-to-wall carpeting, and laminate flooring. The property has a total of four buildings, built on a concrete slab foundations, with pitched composition roofs. The roofs were reportedly replaced in 2015. Common amenities include, but are not limited to, package and/or mail acceptance and delivery, online payments, and ceramic heaters. There is central HVAC which runs four units upstairs 5, 6, 7, 8, 12, 13, 14, 15, and the rest are window A/C units. The Cottages Apartments is a pet friendly community. An investor can take advantage of this value-add asset by implementing interior and exterior upgrades, adding central heating and air conditioning to all units, with historically high occupancy and strong rental prices already in place. Eight of 18 leases or 44 percent of leases have expired or are on course to expire in the first quarter of 2018. An investor looking for a property in a great submarket, near city hall, with little competition should strongly consider The Cottages Apartments in Joshua, Texas.