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24532170
24532171

2207 N Elm St, Denton, TX 76201

SG
TX 9015145
Ray Gun Commercial
Listed by Ray Gun Commercial
$295,000
50 days on market
Updated 38 days ago

Cash Flowing 7.6% CAP Triplex Fully Leased

Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 1,965
Units 3
Cap Rate 7.60%
NOI $22,461
Occupancy 100%
Price per SqFt $150
Class C
Year Built 1930
Buildings 1
Stories 1
Acreage 0.200
Zoning R7
Investment Type Value Add
Sale Condition For sale by owner

Cash Flowing Triplex Within Walking Distance to TWU Campus

Marketing description

2207 N Elm St is an attractive 1930's stacked triplex with two ground-floor units and one rear, overlapping, upper-level unit on an extra large lot in the heart of Denton, just blocks from Texas Woman’s University and minutes to Downtown Denton Square. Each of the three 1BR/1BA units offers an average of 655 SF (per owner provided rent roll), includes front and rear outdoor areas with a covered front porch and an elevated back deck and wooden fenced backyard. The large

empty lot behind the building could potentially be used for adding more units but would need confirmed with the City.

The property's location and unit configuration make it attractive to students and professionals alike. As of Fall 2024, Texas Woman's University had a total enrollment of 16,338 students. Regarding faculty and staff, TWU employs approximately 4,146 individuals as of the 2023–2024 academic year. This substantial campus population contributes to a steady demand for nearby housing, particularly for properties like this one which is within walking distance of TWU.

The property is zoned R7 which supports a variety of residential uses, including triplexes, which aligns with the current configuration. While some commercial uses are permitted, they often require additional approvals to ensure they fit within the neighborhood context. Short-term rentals are also an option, provided they meet the city's regulatory requirements.

Investment highlights

  • Walkable to Texas Woman's University and 1.4 Miles from Downtown Denton Square.
  • Textbook Small Value-Add Investment Property for Increased Rental Income Through Continued Renovations & Utility Reimbursement for Other Two Tenants.
  • Large Lot Behind Building for Possible Additional Units.
  • Ideally Suited for Both Students & Professionals.
  • Easy Access US-380 (University Dr.) & Public Transportation.
  • Denton’s Rental Market Is Booming, with UNT’s & TWU's 72,000+ Students & Professional Workforce Driving Demand.

Listing Contacts

SG
TX 9015145
Ray Gun Commercial
Listed by Ray Gun Commercial

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$22,461.00
$1,871.75/mo

Valuation Metrics

0
DSCR
7.61%
Cap Rate
7.61%
ROI

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Additional Information

Name
Steven Geis
License
9015145
Brokerage
Ray Gun Commercial
Title
Real Estate Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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