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Sam Ruben

sam@samruben.com +1(214) 228-1431

$ 3,700,000

Est. payment | -/mo

32 Beds

32 Baths

21,790 SqFt

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$ 3,700,000

Est. payment | -/mo

Save Virtual Tour

32 Beds

32 Baths

21,790 SqFt

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 21,790 sqft

Price per Sqft $169

MLS Listing ID 21373678

Bedrooms 32

Full Baths 32

Construction Status Resale

HOA Y/N No

Year Built 2010

Annual Tax Amount $39,781

Lot Size 1.916 Acres

Acres 1.916

Property Sub-Type Apartment

Property Description

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.

Location

State TX

County Shelby

Direction Google maps

Interior

Interior Features High Speed Internet, Cable TV

Heating Central, Electric

Cooling Central Air, Ceiling Fan(s), Electric

Flooring Vinyl

Fireplace No

Appliance Dryer, Dishwasher, Electric Range, Disposal, Microwave, Washer

Exterior

Parking Features On Site, Parking Lot

Pool None

Utilities Available Sewer Available, Water Available, Cable Available

Water Access Desc Public

Roof Type Composition

Total Parking Spaces 45

Private Pool No

Building

Foundation Slab

Sewer Public Sewer

Water Public

Level or Stories Two

Construction Status Resale

Schools

Elementary Schools Center

Middle Schools Center

High Schools Center

School District Center Isd

Others

Tax ID R00020321

Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21373678

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(214) 228-1431

sam@samruben.com

3000 Custer Pkwy #270-220, Plano, Texas 75075, USA

403 Nacogdoches ST Center, TX 75935

Sam Ruben

Key Details

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Interior

Exterior

Building

Schools

Others

Nearby Locations

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403 Nacogdoches ST