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Princeton Duplexes 704 E College Ave 9 Unit Apartment Building $2,340,000 ($260,000/Unit) Princeton, TX 75407
Investment Highlights
- Value-add opportunities exist by lightly renovating interiors which may include counter tops, fixtures, new paint, new blinds, etc
- Surrounded by rapid residential development, including new single-family and multifamily communities that are driving increased consumer demand
- Located near national retailers such as Walmart Supercenter, Starbucks, CVS, and Tractor Supply Co., with continued commercial growth in the surroundi
- Spacious 4-bedroom and 3-bedroom units that average 1,650 square feet
Executive Summary
Vanguard Real Estate Advisors (“VREA”) is pleased to present the exclusive opportunity to purchase the Princeton Duplexes (“Property”) located in the northern Dallas-Fort Worth suburb of Princeton, Texas. This investment opportunity totals 9 duplex units, part of a large stand-alone subdivision, which average a spacious 1,642 square feet and is situated one mile north of Highway 380, which leads directly to Highway 75, connecting to the Dallas-Fort Worth MSA. The two-story duplex rental style units were constructed in 2014, each with four bedrooms and two and a half bathroom floor plans with the exception of one unit being a three bedroom. All exteriors are partial or full brick with attached garages. Princeton’s highly rated public schools, rated A-, are very attractive for families with children which make up a significant portion of Property’s tenants. 719 College Street, the only 3-bedroom unit, has a neighboring unit, which the owner would consider selling if a buyer is interested, making it a 12-unit deal. The Property is being sold by its original developer. The price was recently reduced from $290,900/unit down to $260,000/unit.
The Princeton Duplexes can benefit from a new investor making light interior renovations to the units and increasing occupancy in order to further enhance revenue. Upon a future exit, the Property provides investors the flexibility either to sell homes individually at full market/retail value to capitalize on the strong Duplex/Townhome sales in market or to exit as a rental portfolio.
Unit amenities include such as dishwashers, ceiling fans, washer and dryer connections, and walk-in closets.
Additionally, each duplex is available for individual purchase at the same asking price of $260,000 per unit. The one stand-alone unit that makes up half of one duplex is also available for individual purchase.
Please give us a call to discuss if interested.
The Princeton Duplexes can benefit from a new investor making light interior renovations to the units and increasing occupancy in order to further enhance revenue. Upon a future exit, the Property provides investors the flexibility either to sell homes individually at full market/retail value to capitalize on the strong Duplex/Townhome sales in market or to exit as a rental portfolio.
Unit amenities include such as dishwashers, ceiling fans, washer and dryer connections, and walk-in closets.
Additionally, each duplex is available for individual purchase at the same asking price of $260,000 per unit. The one stand-alone unit that makes up half of one duplex is also available for individual purchase.
Please give us a call to discuss if interested.
Property Facts
| Price | $2,340,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $260,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.62 AC |
| No. Units | 9 | Building Size | 18,153 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2014 |
| Price | $2,340,000 |
| Price Per Unit | $260,000 |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | B |
| Lot Size | 0.62 AC |
| Building Size | 18,153 SF |
| No. Stories | 2 |
| Year Built | 2014 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
1 1
Fairly walkable
40/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $751,492 | |
| Land Assessment | $360,000 | Total Assessment | $1,111,492 |
Property Taxes
Parcel Numbers
Land Assessment
$360,000
Improvements Assessment
$751,492
Total Assessment
$1,111,492
Contacts
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Jordan Cortez -
Justin Tidwell -
Will Droese -
Tim Marron -
Vanguard Real Estate Advisors
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Princeton Duplexes | 704 E College Ave
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