972-916-9397
2231 Live Oak St, Commerce, TX for Sale
Apartments - FOR SALE
1/41
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2231 Live Oak St
Commerce, TX 75428


HIGHLIGHTS

  • Prime Location with Growing Demand, Strong Occupancy and Rent Growth
  • Stable Asset with Immediate Cash Flow: offers a 8% in-place cap rate and averages 93% occupancy over the past six years
  • Value-Add Potential: Addressing operational inefficiency could immediately boost income
  • Potential to increase revenue by addressing one-bedroom unit demand ($65 premium) and optimizing by-the-bed pricing for two- and three-bedroom

OVERVIEW

Village Creek Apartments is a renovated 100-unit multifamily community located in Commerce, TX in Hunt County, part of the Dallas metro area. Built in 1973 and situated on 7.05 acres, the property is improved with 12, one- and two-story clusters of buildings with pier and beam foundations, wood framing, and pitched metal roofs. All units are individually metered for electricity and feature updated individual HVAC units and hot water heaters. Village Creek offers a variety of spacious floor plans including one-bedroom units and two- and three-bedroom townhouse-style residences. Amenities include fully equipped kitchens, large individually locking bedrooms, and faux hardwood flooring. Common area amenities include a swimming pool, clubhouse, and a management office. Texas A&M University-Commerce, now named East Texas A&M, is within walking distance. In 2014 Village Creek received $3.75 million in capital improvements. Interior improvements consisted of flooring, electrical fixtures, plumbing fixtures, water heaters, appliance package, paint, cabinets, hardware, and window coverings. On the exterior, the property received new roofs, HVACs, electric metering, paint, and exterior repairs. In addition, community amenities added to the property include a new pool, basketball court, dog park, parking lot, signage, and landscaping.

FOR SALE DETAILS

PRICE

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# OF UNITS

100

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Village Creek Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

146

LAND DETAILS

LAND ACRES

7.06 AC

LAND SF

307,534 SF

ZONING

MF

APN/PARCEL ID

112080

ASK ABOUT THIS PROPERTY

Todd FranksGREAMore Info
972-916-9397

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Todd FranksGREAMore Info
972-916-9397

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