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Alamo School Lofts 1912 11th St 40 Unit Apartment Building $3,700,000 ($92,500/Unit) 7.05% Cap Rate Wichita Falls, TX 76301
Executive Summary
Alamo School Lofts in Wichita Falls, Texas, are 40 luxury apartments converted from the historic Alamo Elementary School, offering unique floor plans with modern amenities, stainless appliances, granite tops, built in-unit washer/dryers, with some corporate units. The pet-friendly community features gated access, covered parking, and storage, blending historic character with contemporary living . Units separately metered . 2026 Jan -June Averaged NOI / $260,826= 7.05 % Cap rate
Key Features
Historic Conversion:
The building is a repurposed former elementary school, preserving its original look while creating modern living spaces.
Apartment Styles:
Offers a mix of open-concept lofts, one-bedroom, and some two-bedroom units, with some being corporate apartments.
Modern Amenities:
Units include stainless steel appliances, granite countertops, subway tile backsplashes, and luxury vinyl plank flooring.
Corporate Units:
Fully furnished options with all utilities and internet included, plus in-unit washer/dryers.
Community Perks:
Pet-friendly, gated access, covered parking, and on-site storage are available (some with extra fees).
Unique Character:
Features like tall ceilings, large windows, and skylights provide abundant natural light and a unique feel.
Key Features
Historic Conversion:
The building is a repurposed former elementary school, preserving its original look while creating modern living spaces.
Apartment Styles:
Offers a mix of open-concept lofts, one-bedroom, and some two-bedroom units, with some being corporate apartments.
Modern Amenities:
Units include stainless steel appliances, granite countertops, subway tile backsplashes, and luxury vinyl plank flooring.
Corporate Units:
Fully furnished options with all utilities and internet included, plus in-unit washer/dryers.
Community Perks:
Pet-friendly, gated access, covered parking, and on-site storage are available (some with extra fees).
Unique Character:
Features like tall ceilings, large windows, and skylights provide abundant natural light and a unique feel.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $92,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 3.14 AC |
| Cap Rate | 7.05% | Building Size | 49,135 SF |
| Gross Rent Multiplier | 10.16 | Average Occupancy | 100% |
| No. Units | 40 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1925/2020 |
| Property Subtype | Apartment | ||
| Zoning | MF | ||
| Price | $3,700,000 |
| Price Per Unit | $92,500 |
| Sale Type | Investment |
| Cap Rate | 7.05% |
| Gross Rent Multiplier | 10.16 |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 3.14 AC |
| Building Size | 49,135 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1925/2020 |
| Zoning | MF |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Yard
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Courtyard
- Fenced Lot
- Picnic Area
- Tenant Controlled HVAC
- Corporate Suites
- Grill
- Pet Play Area
- Trash Pickup - Curbside
- Vintage Building
- Storage Space
- Elevator
- Fiber Optic Internet
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 36 | - | 750 - 1,025 |
| 2+2 | 4 | - | 1,250 - 1,479 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 157502 | Total Assessment | $2,048,000 (2025) |
| Land Assessment | $47,789 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,000,211 (2025) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
157502
Land Assessment
$47,789 (2025)
Improvements Assessment
$2,000,211 (2025)
Total Assessment
$2,048,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026 Payable 2026
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Alamo School Lofts | 1912 11th St