400 Morris Ct - Apartments FOR SALE


Mcgregor, TX 76657
$4,275,000 USD
254-405-0117
400 Morris Ct, Mcgregor, TX for Sale
$4,275,000 USD
Apartments - FOR SALE
1/27
null | Request Cap Rate

400 Morris Ct
Mcgregor, TX 76657


HIGHLIGHTS

  • 19 Units for sale @ $225,000.00 each

OVERVIEW

Morris Court is MSS’ next exciting opportunity to fulfill McGregor’s housing needs. Morris Court is approx. 2 acre tract with 19 townhomes development project which will consist of a seven (7) unit, a six (6) unit, a five (5) unit, and a four (4) unit structures. The City of McGregor has approved the project’s engineering plans which satisfy city zoning requirements. Infrastructure development began the first week of July 2023. Each of the 19 units will have two (2) bedrooms, two (2) bathrooms and encompass approximately 1,100 square feet of living space. The units will be equipped with modern appliances and finishes. The development will also feature a common court-yard with a gazebo and dog park. The complex will have a structured HOA as required by the city and managed by the developer until the last unit is sold. The construction phase is expected to take no more than 12-18 months to complete beginning in July 2023. The marketing and sales phase will begin simultaneously with the construction of the townhomes. During MSS’ previous projects, most units were sold prior to the completion of construction. Based on the area demand and commitment of community leaders, MSS expects that all Morris Court units should be sold prior to completion.

FOR SALE DETAILS

PRICE

$4,275,000 USD

PRICE/SF

$205 USD /SF

# OF UNITS

19

PRICE/UNIT

$225,000

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Morris Court Subdivision

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2025

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

34-131500-000100-0

ASK ABOUT THIS PROPERTY

Elizabeth BaysRe/Max Centex, RealtorsMore Info
254-405-0117

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Elizabeth BaysRe/Max Centex, RealtorsMore Info
254-405-0117

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