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2050 State Highway 31
Athens, TX 75751
Athens Reserve · Multifamily Property For Sale
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122 Units
Investment Highlights
- Hotel Conversion Project in Athens, TX Built in 1981, With 122 Vacant Units
- Property Has Already Been Rezoned to Planned Development With a Base Zoning of Multi-Family-5 (MF-5)
- Low Basis That Allows for Significant Renovation Budget While Staying Below Replacement Cost
- ~17,500 S.F. of Commercial Space Previously Used for a Restaurant, Commercial Kitchen, Bar, and a Conference Space
- Capex Items in the Last 12 Months Include New Roof, Fire Suppression Systems, New Exterior Doors, Plumbing Main Line Repairs, and Asbestos Abatement
- Property Sits on 11+ Acres of Land Providing Adequate Space To Add Additional Units in the Future
Property Facts
| No. Units | 122 | Lot Size | 10.64 AC |
| Property Type | Multifamily | Building Size | 93,917 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1981/2025 |
| Building Class | B | ||
| Zoning | Commercial | ||
| No. Units | 122 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 10.64 AC |
| Building Size | 93,917 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1981/2025 |
| Zoning | Commercial |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- 24 Hour Access
- Controlled Access
- Maintenance on site
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 122 | $680.00 | 288 |
Property Taxes
| Parcel Number | 2455-0000-012A-01 | Improvements Assessment | $0 |
| Land Assessment | $120,988 | Total Assessment | $120,988 |
Property Taxes
Parcel Number
2455-0000-012A-01
Land Assessment
$120,988
Improvements Assessment
$0
Total Assessment
$120,988
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