Summary:
The Multifamily Group is pleased to present the exclusive offering of Summerhill Woods, a unique, opportunity in Texarkana, Texas. Constructed in 1985, the property consists of 176 units averaging 734 square feet. The property offers a variety of floorplans with the majority being two-bedroom units. The property is currently 98% occupied with strong occupancy rates in the submarket at 94%. Summerhill Woods has an assumable Fannie Mae loan with approximately $9,500,000 remaining, a 4.01% interest, and 7 years remaining of the term (more details on pages 9-10).
Property Location:
Situated adjacent to Texas High School and nestled between Interstate-30 and TX State Highway 93, this location offers prime accessibility. Located two miles from Summerhill Woods, residents enjoy convenient access to a variety of national restaurants and retailers, including Starbucks, Fuzzy’s Taco Shop, WingStop, Walmart Supercenter, Walgreens, and CVS. The property also benefits from close proximity to Interstate-30 and Interstate-49.
Texarkana:
Governor Greg Abbott announced that Braven Environmental, a waste-to-value company specializing in recycling waste plastics, will establish a $145 million advanced recycling facility in Texarkana, Texas. This initiative is the third project under the Texas Jobs, Energy, Technology, and Innovation (JETI) program and is expected to create significant capital investment for the area.
Forbes recently recognized Texarkana as one of the Best Small Places for Business and Careers. Serving as a regional hub for education, healthcare, and employment, the city’s retail and services trade area spans 17 counties across three states. The local workforce is drawn from a 60-mile radius, ensuring a strong labor pool.