210 S Lamar St | Itasca, TX 76055
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- LoopNet Team
210 S Lamar St
Itasca, TX 76055
Lamar Park · Multifamily Property For Sale
·
11 Units
INVESTMENT HIGHLIGHTS
- Low Basis Opportunity, 11 Individually Metered Units Located off I-35 Within 30 Minutes of DFW
- Lowering Management Overhead and Slightly Increasing the Below Market Rents Allows for Pro Forma 9.5% Cap Rate and Double-Digit Yields
- Situated Less Than One Mile from Interstate 35 – Itasca is Located In-Between Fort Worth and Waco, Squarely Within the “Texas Triangle”
- Operational Upside by Reducing Costs – Out of State Ownership Bought Large Portfolio and is Liquidating Asset that Lacks Proper Structure to Efficient
- Well Maintained Asset – Over $50K Invested by Current Ownership – Unit Upgrades, Exterior Upgrades, Parking Lot Repairs, and All Electric Panels Repla
- Lack of Competition – Property has Experienced Historically High Occupancy and Low Delinquency Due to Few Comparable Properties
PROPERTY FACTS
| No. Units | 11 | Lot Size | 0.44 AC |
| Property Type | Multifamily | Building Size | 7,766 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1976 |
| Zoning | F1 - Commercial | ||
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 7,766 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1976 |
| Zoning | F1 - Commercial |
AMENITIES
UNIT AMENITIES
- Refrigerator
- Oven
- Tub/Shower
- Double Pane Windows
- Instant Hot Water
- Patio
SITE AMENITIES
- 24 Hour Access
- Trash Pickup - Curbside
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 134539 | Improvements Assessment | $228,380 |
| Land Assessment | $28,850 | Total Assessment | $257,230 |
PROPERTY TAXES
Parcel Number
134539
Land Assessment
$28,850
Improvements Assessment
$228,380
Total Assessment
$257,230
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