504 Kemp Blvd | Wichita Falls, TX 76301
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- LoopNet Team
504 Kemp Blvd
Wichita Falls, TX 76301
Stone Ridge Apartments · Multifamily Property For Sale
·
228 Units
INVESTMENT HIGHLIGHTS
- $10.4+ Million in Value-Add Upside – With Interior Modernization and Several Other Income-Producing Opportunities
- Significant Capital Spent by Current Ownership on Capex Items Allowing for a New Buyer To Take Opportunity of Incoming Revenue Streams
- Located Near Several Economic Drivers – Including Sheppard Air Force Base, Wichita Falls ISD, and Midwestern State University
- 97% Occupied – Opportunity To Acquire a Nearly Fully Leased Asset
- Wichita Falls Has Been Nationally Recognized As the #1 City To Live in the U.S. for Working Families and More
- Offered Free and Clear of Any Existing Debt
PROPERTY FACTS
| No. Units | 228 | Building Size | 157,744 SF |
| Property Type | Multifamily | Average Occupancy | 97% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1963 |
| Building Class | C | Parking Ratio | 1/1,000 SF |
| Lot Size | 7.04 AC | ||
| Zoning | MF - B14u - Apartments (14 Units And Over) | ||
| No. Units | 228 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 7.04 AC |
| Building Size | 157,744 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1/1,000 SF |
| Zoning | MF - B14u - Apartments (14 Units And Over) |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Ceiling Fans
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Patio
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Pool
- Property Manager on Site
- Maintenance on site
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 20 | - | 292 |
| 1+1 | 133 | - | 630 - 683 |
| 2+1 | 56 | - | 784 - 832 |
| 2+2 | 8 | - | 928 |
| 2+2 | 11 | - | 922 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $7,319,828 | |
| Land Assessment | $251,747 | Total Assessment | $7,571,575 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$251,747
Improvements Assessment
$7,319,828
Total Assessment
$7,571,575
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