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Center, TX 75935
  • 32 Beds
  • 32 Baths
$3,700,000

About this home

Located in Center, TX, Town Square presents an opportunity to acquire a stabilized, mixed-use investment featuring 24 units consisting of one- and two-bed floorplans alongside 4 commercial office spaces in a modern development completed in 2011. Purpose built to serve both long-term residents and corporate housing demand, most units come fully furnished, and all are equipped with in-unit washers and dryers and internet, offering a true turnkey living experience. With an ideal location walking distance to downtown, Town Square benefits from Shelby County’s various economic drivers including energy, manufacturing and government employment. Additionally, the commercial component provides diversified income with existing tenancy and additional leasing upside. With newer construction, minimal anticipated capital expenditures, a diversified revenue stream, and one of the few professionally managed market-rate apartment communities in the area, Town Square offers investors a combination of stable in-place cash flow and long-term value creation opportunities. Investors can boost NOI by leasing out two vacant office spaces. Owners spent $75k finishing them out, complete with HVAC, electric, plumbing, kitchen, bathrooms, and individual offices. Asking lease rates will be $2,200 for the larger space and $1,700 for the smaller unit, bringing annual gross potential to $46,800. Other value add opportunities include capturing a rent premium through thoughtfully appointed, furnished residences while leveraging flexible lease terms to capitalize demand from corporate and short-term users.

Overview

Full Baths
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Half Baths
0
Bathrooms
32
Bedrooms
32
Building Area
21790
Levels
Two
Living Area
0
Lot Size (Acres)
1.916
Property Subtype
Apartment
Property Type
Residential Income
Status
Active
Year Built
2010

Interior

Appliances
Dryer, Dishwasher, Electric Range, Disposal, Microwave, Washer
Cooling
Central Air, Ceiling Fan(s), Electric
Fireplaces
0
Flooring
Vinyl
Heating
Central, Electric
Interior Features
High Speed Internet, Cable TV

Exterior & Construction

Construction
Fiber Cement, Stone Veneer, Wood Siding
Foundation
Slab
Roof
Composition

Parking

Covered Parking
0
Garage Spaces
0

Location & Area

City
Center
County
Shelby
School District
Center ISD
ZIP Code
75935
State
TX
Subdivision
Not Applicable

Financial

Price
3700000

Utilities

Sewer
Public Sewer
Utilities
Sewer Available, Water Available, Cable Available

Listing Details

Listing Agent
Esther Cho
Listing Office
GSFREA LLC
MLS #
21373678
Virtual Tour
https://www.propertypanorama.com/instaview/ntreis/21373678

Listing agents

Listing AgentEsther ChoGSFREA LLC

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