1200 Ridgeway Dr | Wichita Falls, TX 76306
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- LoopNet Team
1200 Ridgeway Dr
Wichita Falls, TX 76306
Maurine Street Apartments · Multifamily Property For Sale
·
120 Units
INVESTMENT HIGHLIGHTS
- Owned for over 16 years by the current ownership group.
- Vacancy is projected to be 15.0% in Year 1 and 8.0% in Year 2 and thereafter, per market projections.
- Maurine Street Apartments has great potential for the owner to boost income with a full remodel by replacing roofs, renovating unit interiors.
- Potential Market Rent is based on market rates shown in the Unit Mix table and are grown at 2.0%.
PROPERTY FACTS
| No. Units | 120 | Building Size | 105,888 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1972 |
| Building Class | C | Parking Ratio | 2.21/1,000 SF |
| Lot Size | 8.15 AC |
| No. Units | 120 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 8.15 AC |
| Building Size | 105,888 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 2.21/1,000 SF |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
- Garden
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Maintenance on site
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 24 | $392.00 | 652 |
| 2+2 | 72 | $447.00 | 878 |
| 3+2 | 24 | $526.00 | 1,126 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $5,151,324 | |
| Land Assessment | $130,676 | Total Assessment | $5,282,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$130,676
Improvements Assessment
$5,151,324
Total Assessment
$5,282,000
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