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15890 N US Highway 59 17 Unit Apartment Building $1,250,000 ($73,529/Unit) 10.60% Cap Rate Garrison, TX 75946
Investment Highlights
- TURNKEY INVESTMENT
- LIMITED RENTAL COMPETITION
- ONLY 10 MINUTES TO NACOGDOCHES
- RENTS BELOW FAIR MARKET RATE
- EXCESS ACREAGE FOR DEVELOPMENT
Executive Summary
Marcus & Millichap is pleased to present the opportunity to purchase Appleby Courtyard in Garrison, Texas.
Built in 1983 and renovated in 2025, Appleby Courtyard sits on 5.40 acres, and is conveniently located on US Highway 59 North in the heart of East Texas. The property is less than 10 miles from Stephen F. Austin University, and close to Nacogdoches Memorial Hospital, Nacogdoches Public Schools, and Major National Retailers.
The 17-unit community features a spacious courtyard, picnic area with bbq grill, on-site laundry facility, ample parking, and excess development land. The property offers one and two-bedroom units with open floor plans, ceramic tile flooring, energy efficient appliances, and modern finishes.
With a student population of nearly 12,000 and the recent inclusion of SFA in the University of Texas System, the properties present substantial opportunities to generate stable cash flow while increasing investment returns.
Appleby Courtyard is offered ‘free and clear’ of existing debt allowing new ownership to secure attractive financing with multiple years of interest-only available. Contact MMCC for more details.
Built in 1983 and renovated in 2025, Appleby Courtyard sits on 5.40 acres, and is conveniently located on US Highway 59 North in the heart of East Texas. The property is less than 10 miles from Stephen F. Austin University, and close to Nacogdoches Memorial Hospital, Nacogdoches Public Schools, and Major National Retailers.
The 17-unit community features a spacious courtyard, picnic area with bbq grill, on-site laundry facility, ample parking, and excess development land. The property offers one and two-bedroom units with open floor plans, ceramic tile flooring, energy efficient appliances, and modern finishes.
With a student population of nearly 12,000 and the recent inclusion of SFA in the University of Texas System, the properties present substantial opportunities to generate stable cash flow while increasing investment returns.
Appleby Courtyard is offered ‘free and clear’ of existing debt allowing new ownership to secure attractive financing with multiple years of interest-only available. Contact MMCC for more details.
Property Facts
| Price | $1,250,000 | Building Class | C |
| Price Per Unit | $73,529 | Lot Size | 5.40 AC |
| Sale Type | Investment | Building Size | 32,637 SF |
| Cap Rate | 10.60% | Average Occupancy | 100% |
| No. Units | 17 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1983/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.07/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $1,250,000 |
| Price Per Unit | $73,529 |
| Sale Type | Investment |
| Cap Rate | 10.60% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 5.40 AC |
| Building Size | 32,637 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1983/2024 |
| Parking Ratio | 1.07/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Range
- Tub/Shower
- Grill
- Family Room
- Freezer
- Porch
- Window Coverings
Site Amenities
- Courtyard
- Laundry Facilities
- Walking/Biking Trails
- Individual Locking Bedrooms
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 616 |
| 2+1 | 13 | - | 812 |
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15890 N US Highway 59
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