This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
1103 S Armstrong Ave
Denison, TX 75020
Las Casitas - Apartments · Multifamily Property For Sale
·
18 Units
INVESTMENT HIGHLIGHTS
- Located in a neighborhood area in close proximity to historic Denison.
- The property has a strong tenant history with high forecasted occupancy.
- Currently undergoing complete renovations of all units with an anticipated increase of gross rental income.
- This is a tremendous investment opportunity with a 12% cap rate.
PROPERTY FACTS
| No. Units | 18 | Lot Size | 0.70 AC |
| Property Type | Multifamily | Building Size | 10,000 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Garden | No. Stories | 2 |
| Building Class | B | Year Built/Renovated | 1946/2020 |
| Zoning | Commerical - Apartments | ||
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.70 AC |
| Building Size | 10,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1946/2020 |
| Zoning | Commerical - Apartments |
ABOUT 1103 S ARMSTRONG AVE , DENISON, TX 75020
Apartment complex is currently under complete renovations for each of the 18 units. Unit #15 renovation started Oct. 19. When that unit is completed, the renovation will be 75% completed. This percentage includes paint and new windows. Once ALL renovations are completed, the yearly gross rental income is forecasted be close to $140k with rental increases and new leases. The apartments include 14 studios, three 1-bedrooms, and one 2-bedroom. Units 8-10 all have leases that end in either January or February 2021. The rest are month to month that have been in place for over five years and pay by the 3rd of each month consistently. Great investment! See transaction desk for potential income breakdown and more information!
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 18 | - | - |
PROPERTY TAXES
| Parcel Number | 147684 | Improvements Assessment | $656,300 |
| Land Assessment | $81,000 | Total Assessment | $737,300 |
PROPERTY TAXES
