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2269 W Oak St
Denton, TX 76201
The Cluster Apartments · Multifamily Property For Sale
·
57 Units
Executive Summary
Cluster Apartments is a 57-unit multifamily asset in Denton, Texas, offering investors a stabilized asset near UNT, TWU, major employers, and the UNT bus line. The property consists of five two-story buildings totaling 30,580 net rentable square feet on 1.469 acres and features a unique unit mix that includes studios, junior one-bedrooms, one-bedroom townhome units, and larger-format units. With current occupancy at approximately 93%, attractive in-place rents across multiple floorplans, and mini-split HVAC units added throughout the property in 2023, Cluster Apartments provides immediate income with additional upside through continued operational optimization. The asset may be purchased on a stand-alone basis or together with nearby Bonnie Green Apartments as part of a 98-unit portfolio offering.
Property Facts
| Price Per Unit | $82,456 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.47 AC |
| Cap Rate | 6.37% | Building Size | 33,990 SF |
| No. Units | 57 | Average Occupancy | 86% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1972/1990 |
| Apartment Style | Garden | ||
| Zoning | MN - Mixed-Use Neighborhood | ||
| Price Per Unit | $82,456 |
| Sale Type | Investment |
| Cap Rate | 6.37% |
| No. Units | 57 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.47 AC |
| Building Size | 33,990 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built/Renovated | 1972/1990 |
| Zoning | MN - Mixed-Use Neighborhood |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Disposal
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Shuttle to Train
- Maintenance on site
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | $850.00 | 300 |
| 1+1 | 51 | $1,025 | 400 - 940 |
| 2+1 | 1 | $1,300 | 1,100 |
| 4+2 | 1 | $1,500 | 1,300 |
Property Taxes
| Parcel Number | R35468 | Improvements Assessment | $2,374,126 |
| Land Assessment | $1,151,874 | Total Assessment | $3,526,000 |
Property Taxes
Parcel Number
R35468
Land Assessment
$1,151,874
Improvements Assessment
$2,374,126
Total Assessment
$3,526,000
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