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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
31411519
31411518

2404 Louise Street #2404 & 2420, Denton, TX 76201

Star Realty
Listed by Star Realty
$4,300,000
68 days on market
Updated 68 days ago

2404 Louise Street #2404 & 2420 Denton

Details
APN R26195
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,720
Units 24
NOI $230,746
Price per SqFt $442
Year Built 1967
Stories 2
Acreage 0.720
Parking Spaces 34 spaces
Parking Per SqFt 3.50

Multifamily | 24 Units

Marketing description

24 Unit Apartment Buildings (12 & 12) 1 Block from UNIVERSITY OF NORTH TEXAS CAMPUS! Over the last few years, owner has spent large sums of money to not only Remodel Units but to significantly improve the infrastructure. All old HVAC systems replaced, Many of the Gas Water Heaters replaced, Most flooring and Paint in the last 2 years. Some units have undergone further remodeling with new kitchens with more cabinet space. All but 1 unit are 2 bedroom 1 bath. Most come with all stainless appliances including dishwashers. The ones with new kitchens excluded dishwashers as requested by many tenants who prefer cabinet space. Market rents have been low to accommodate construction both on the street and in the building. Now is your opportunity to put your finishing touches to make it shine and raise rents back up to $1400 or $1500 per unit as we did prior to last year's construction. Take advantage of the potential upswing. Great for your first apartment complex or experts increasing their portfolio.

Investment highlights

  • Lot Size Area: 0.72 acres
  • Parking Spots: 34
    • Year Built: 1967

      Listing Contacts

      Star Realty
      Listed by Star Realty

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      Loan Amount
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      Annual Debt Service
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      Annual Cash Flow
      $230,746.00
      $19,228.83/mo

      Valuation Metrics

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      DSCR
      5.37%
      Cap Rate
      5.37%
      ROI

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