806-543-5980
1600 LaSalle Dr, Sherman, TX for Sale
Apartments - FOR SALE
1/23
null | Request Cap Rate

1600 LaSalle Dr
Sherman, TX 75090


HIGHLIGHTS

  • Assumable Debt with $11.3MM Loan Balance and Interest Only through November 1st, 2028
  • Washer and Dryer Connections in Every Unit
  • $4.5MM in Improvement Upside - Renovating Units, Adding Carports, and Implementing a Bulk Cable Contract
  • $62,000+ Median Household Income - 5-Mile Radius (Yardi)
  • Less than a Mile from Sam’s Club, Walmart, Chick-fil-A, Interstate-75, Hwy-82, and The Sherman Town Center
  • All Classic Units

OVERVIEW

Summary: The Multifamily Group is proud to exclusively offer the Easton Parc Apartments, a rare investment opportunity in Sherman, Texas. Built in 1985, the property features 232 units, averaging 725 square feet with efficiencies up to two-bedroom/two-bathroom layouts, and is 80% occupied, with washer and dryer connections included in every unit. There is also a storage unit included with every one and two bed- room floorplan. The property has assumable debt with $11,300,000 remaining that is in the interest only period through November 1st, 2028. Value-Add Analysis: Renovate all 232 classic units and increase the rents. Install carports and charge tenants a monthly fee. Add a bulk cable contract to the property. Location: Easton Parc is conveniently located less than a mile from the intersection of Interstate-75 and High- way-82 in Sherman, just an hour north of Dallas, and approximately 15 minutes from Denison. Nearby destinations include the Sherman Town Center, Canyon Creek Shopping Center, Midway Mall, and Pecan Grove Park. Just minutes from Easton Parc, residents have access to everyday conveniences including a Sam’s Club, Walmart, Chick-Fil-A, Kroger, Texoma Plaza shopping center, and numerous dining and retail options. The property is located within the Sherman Independent School District, with Piner Middle School and Sherman High School both nearby. Healthcare services are also easily accessible, with Baylor Scott & White Surgical Hospital located less than one mile from the property, and additional medical facilities within close proximity. Market Overview: The Sherman–Denison area boasts a stable and expanding employment base, with top sectors in education and health services. Denison is home to two regional medical centers: Wilson N. Jones Regional Health System and Texoma Medical Center. In Sherman, major employers include Tyson Foods and Texas Instruments (TI). The area is rapidly evolving into a hub for chip and semiconductor manufacturing, fueled by the development of the 3,300-acre master-planned Progress Park. TI has already broken ground on a $30 billion manufacturing campus, and GlobiTech recently invested $5 billion into a new facility, which created ~1,500 new jobs. These developments are set to drive ongoing and future housing demand in the region.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

232

CAP RATE

Request Cap Rate

% LEASED

72%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Easton Parc Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1985

PARKING SPACES

-

LAND DETAILS

LAND ACRES

8.75 AC

LAND SF

381,150 SF

ZONING

None

APN/PARCEL ID

154934

ASK ABOUT THIS PROPERTY

Chase DavisThe Multifamily GroupMore Info
806-543-5980

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Chase DavisThe Multifamily GroupMore Info
806-543-5980

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