3551 E Broadway St - Apartments FOR SALE


Gainesville, TX 76240
$54,900,000 USD
801-989-2890
3551 E Broadway St, Gainesville, TX for Sale
$54,900,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

3551 E Broadway St
Gainesville, TX 76240


HIGHLIGHTS

  • Impact Fees Paid for 754 Units
  • Construction nearly completed on 208 units

OVERVIEW

Introducing a premier large-scale residential community in the heart of Gainesville, Texas, thoughtfully designed to meet the region’s growing housing demand.? Spanning multiple phases, this 921-unit apartment development will feature 18 well-planned buildings, creating a cohesive, amenity-rich environment for residents seeking both comfort and convenience.? The first phase—comprised of 208 units—is nearing completion of construction, positioning the project for near-term lease-up and immediate momentum.? Additionally, entitlements have been completed and impact fees have already been paid on the first 754 units, significantly de-risking future phases and streamlining the path to continued development.? We are currently completing the entitlements on the remaining 167 units and all entitlements will be included in the sale.? Strategically located just a short 15-minute drive (approximately 13 miles) from WinStar World Casino and Resort—the largest casino in the United States and a major regional employer with over 3,600 employees—the community benefits from a strong and stable demand driver.? Its proximity to this employment hub, combined with convenient access to major transportation routes, places residents within easy reach of jobs, entertainment, and retail.? As Gainesville continues to experience steady growth, this community represents a rare opportunity to deliver high-quality housing at scale in a supply-constrained market—offering both immediate leasing potential and a clear, de-risked path for future expansion.?

FOR SALE DETAILS

PRICE

$54,900,000 USD

PRICE/SF

$73 USD /SF

# OF UNITS

921

PRICE/UNIT

$59,609

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rock Creek Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2026

PARKING SPACES

-

LAND DETAILS

LAND ACRES

27.74 AC

LAND SF

1,208,354 SF

ZONING

MF-2

APN/PARCEL ID

82475,82476,82477

ASK ABOUT THIS PROPERTY

Porter ChristensenSumma Terra VenturesMore Info
801-989-2890

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Porter ChristensenSumma Terra VenturesMore Info
801-989-2890

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