704 E College Ave - Apartments FOR SALE


Princeton, TX 75407
$2,340,000 USD
214-556-1951
704 E College Ave, Princeton, TX for Sale
$2,340,000 USD
Apartments - FOR SALE
1/6
null | Request Cap Rate

704 E College Ave
Princeton, TX 75407


HIGHLIGHTS

  • Value-add opportunities exist by lightly renovating interiors which may include counter tops, fixtures, new paint, new blinds, etc
  • Located near national retailers such as Walmart Supercenter, Starbucks, CVS, and Tractor Supply Co., with continued commercial growth in the surroundi
  • Surrounded by rapid residential development, including new single-family and multifamily communities that are driving increased consumer demand
  • Spacious 4-bedroom and 3-bedroom units that average 1,650 square feet

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,340,000 USD

PRICE/SF

$129 USD /SF

# OF UNITS

9

PRICE/UNIT

$260,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Princeton Duplexes

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2014

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

-

APN/PARCEL ID

R-9184-000-003A-1,R-9184-000-003B-1,R-9184-000-004A-1,R-9184-000-004B-1

ASK ABOUT THIS PROPERTY

Jordan CortezVanguard Real Estate AdvisorsMore Info
214-556-1951

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Jordan CortezVanguard Real Estate AdvisorsMore Info
214-556-1951

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