Listed by Ray Gun Commercial
$365,000
Value Add Duplex & Two Cottages Near UNT Campus
Details
APN 29153
Property Type Multifamily
Sub Type Student Housing, Single Family Rental Portfolio
Square Footage 2,262
Net Rentable (SqFt) 2,280
Units 4
Cap Rate 7.40%
NOI $26,840
Occupancy 75%
Pro-Forma NOI $29,266
Price per SqFt $173
Class D
Year Built 1960
Buildings 3
Stories 1
Acreage 0.210
Zoning MN (Mixed Use Neighborhood)
Investment Type Value Add
Sale Condition For sale by owner
Value Add Duplex with 2 Cottage Units Within Walking Distance to University of North Texas Campus
Marketing description
Duplex & Two Cottages Near UNT Campus
Value-Add investment property with potential for growth that includes a duplex with two cottage unit rentals in back within walking distance to the University of North Texas and the popular Fry St. area with restaurants & bars. The owner has put in approximately $40k in capital improvements in the last few years. Property has historically strong occupancy. This location attracts both student and non-student tenants. Current rents range from $850-1,075/unit. Owner pays for common area lighting and water/waste water for two of the units.
Investment highlights
- Walkable to University of North Texas, Downtown Denton, Fry Street & Public Transportation
- Textbook Small Value-Add Investment Property
- Strong Historical Occupancy
- Ideally Suited for Both Students & Professionals
- Denton’s Rental Market Is Booming, with UNT’s 50,000+ Students & Strong Professional Workforce Driving Demand
Listing Contacts
Listed by Ray Gun Commercial
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$26,840.00
$2,236.67/mo
Valuation Metrics
0
DSCR
7.35%
Cap Rate
7.35%
ROI
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