15890 N US Highway 59 - Apartments FOR SALE


Garrison, TX 75946
$1,250,000 USD
817-271-3608
15890 N US Highway 59, Garrison, TX for Sale
$1,250,000 USD
Apartments - FOR SALE
1/13
null | 10.6% Cap Rate

15890 N US Highway 59
Garrison, TX 75946


HIGHLIGHTS

  • TURNKEY INVESTMENT
  • RENTS BELOW FAIR MARKET RATE
  • LIMITED RENTAL COMPETITION
  • EXCESS ACREAGE FOR DEVELOPMENT
  • ONLY 10 MINUTES TO NACOGDOCHES

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to purchase Appleby Courtyard in Garrison, Texas. Built in 1983 and renovated in 2025, Appleby Courtyard sits on 5.40 acres, and is conveniently located on US Highway 59 North in the heart of East Texas. The property is less than 10 miles from Stephen F. Austin University, and close to Nacogdoches Memorial Hospital, Nacogdoches Public Schools, and Major National Retailers. The 17-unit community features a spacious courtyard, picnic area with bbq grill, on-site laundry facility, ample parking, and excess development land. The property offers one and two-bedroom units with open floor plans, ceramic tile flooring, energy efficient appliances, and modern finishes. With a student population of nearly 12,000 and the recent inclusion of SFA in the University of Texas System, the properties present substantial opportunities to generate stable cash flow while increasing investment returns. Appleby Courtyard is offered ‘free and clear’ of existing debt allowing new ownership to secure attractive financing with multiple years of interest-only available. Contact MMCC for more details.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$38 USD /SF

# OF UNITS

17

PRICE/UNIT

$73,529

CAP RATE

10.6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

PARKING SPACES

35

LAND DETAILS

LAND ACRES

5.4 AC

LAND SF

235,224 SF

ZONING

-

APN/PARCEL ID

12026

ASK ABOUT THIS PROPERTY

Fin ErwinMarcus & MillichapMore Info
817-271-3608

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Fin ErwinMarcus & MillichapMore Info
817-271-3608

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.