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Royal Terrace 306 Martha St 120 Unit Apartment Building $9,250,000 ($77,083/Unit) 7.62% Cap Rate Euless, TX 76040
Investment Highlights
- 7.62% cap rate and 10% cash-on-cash return offer strong investor yield
- $1.5M in upgrades minimize capital exposure and enhance tenant retention
- Complete RUBS conversion to lower expenses and grow NOI
Executive Summary
Marcus & Millichap is pleased to present the exclusive listing of Royal Terrace, a 120-unit apartment community located in Euless, Texas. Built in 1964, the property offers investors a compelling combination of yield and upside, featuring a ~7.20% tax-adjusted cap rate, 10% cash-on-cash return, and 24% leveraged IRR. New ownership can complete the RUBS conversion to further reduce expenses while benefiting from over $1.5 million in recent capital improvements. Situated in the heart of the Mid-Cities, Royal Terrace enjoys exceptional connectivity to DFW Airport, major employers, and regional retail destinations, supporting long-term demand and sustained rent growth.
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Property Facts
| Price | $9,250,000 | Apartment Style | Garden |
| Price Per Unit | $77,083 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.56 AC |
| Cap Rate | 7.62% | Building Size | 78,716 SF |
| No. Units | 120 | Average Occupancy | 77% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1964/2005 |
| Zoning | R-1 | ||
| Price | $9,250,000 |
| Price Per Unit | $77,083 |
| Sale Type | Investment |
| Cap Rate | 7.62% |
| No. Units | 120 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.56 AC |
| Building Size | 78,716 SF |
| Average Occupancy | 77% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2005 |
| Zoning | R-1 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Heating
- Ceiling Fans
- High Speed Internet Access
- Refrigerator
- Satellite TV
- Range
- Views
- Wheelchair Accessible (Rooms)
Site Amenities
- Courtyard
- Laundry Facilities
- Picnic Area
- Property Manager on Site
- Tennis Court
- Grill
- Laundry Service
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 88 | - | 525 - 745 |
| 2+2 | 32 | - | 982 |
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Property Taxes
| Parcel Number | 04653491 | Improvements Assessment | $7,996,640 |
| Land Assessment | $167,222 | Total Assessment | $8,163,862 |
Property Taxes
Parcel Number
04653491
Land Assessment
$167,222
Improvements Assessment
$7,996,640
Total Assessment
$8,163,862
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Royal Terrace | 306 Martha St
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