Lamar Park is an 11-unit, individually metered, community that is located in Itasca, Texas. This property is two blocks from Main Street and located roughly one mile from Interstate 35. Itasca, affectionately known as the “Big Little Town,” has a stable population and a lack of comparable multifamily housing. Itasca ISD and school campuses are located less than half a mile away from Lamar Park. The property is located in an Opportunity Zone, which offers potential tax advantages for a prospective owner. The subject property was built in 1976 and consists of two brick buildings with mansard style roofs, individual HVACs, individual hot water heaters, and concrete slab foundations. Capital expenditures include exterior repairs and maintenance, partial roof replacement, parking lot repairs, and complete electric panel replacement. The interiors of most units have brown vinyl flooring, white appliances, and resurfaced countertops. The two upgraded units feature grey vinyl flooring, black appliances, ceiling fans, and updated fixtures. Lamar Park presents a new owner with the opportunity to acquire an exceptionally performing, well maintained property in an undersupplied market within the “Texas Triangle” at an excellent basis. The out-of-state seller bought this property as a 17-property portfolio but plans to liquidate Lamar Park, as they are not set up to effectively manage this property. This property requires minimal capex due to the professionalism of the seller but can be run much more effectively. A new buyer can make large strides in growing NOI through lowering expenses from a more viable management structure and moving rents marginally towards market, which comps suggest there is ample room. The property also has no other income streams in place today. By executing this frictionless plan, a new owner can expect future cash on cash returns of 11% and an internal cap rate of 8%. Lamar Park is being offered free & clear of existing debt.