Crossroad Terrace Apartments
36-Unit Value-Add Opportunity | Multifamily | Free & Clear | $2.5MM+ Upside | Farmersville, TX
Marketing description
The Multifamily Group is pleased to present the exclusive offering of Crossroads Terrace, a unique,
value-add opportunity in Farmersville, Texas. Constructed in 1985, the property consists of 36 units
averaging 699 square feet. The property offers one and two-bedroom floorplans. The property is
currently 72% occupied with strong occupancy rates in the submarket at 91%. Crossroads Terrace
is being offered free and clear of existing debt.
Value-Add:
- Renovate the interiors of all of the units.
- Repair seven units that need a heavy lift ($7,500/unit in estimated repairs).
- Implement RUBS for water.
- Add washer and dryer hookups to each unit. See pages 9-10 for a full analysis.
Location:
Crossroads Terrace is located in the growing community of Farmersville, Texas, offering a small-town
atmosphere with convenient access to major employment hubs in Collin County via SH-78. The
property benefits from steady traffic flow and connectivity to nearby cities like McKinney, Princeton,
and Greenville. Residents are just minutes from local retailers such as Brookshire’s and Dollar General,
with additional access to national brands in nearby Princeton and McKinney.
Investment highlights
- $1.6MM+ in Operational Value Enhancement
- Roofs & Stairwells Replaced Within the Last Year
- Same Owner for Over 35 Years
- More than Half are Two-Bedroom Units
- Located Just Off Highway-78 & US-380
- $83,000+ Median Area Income in a 5-Mile Radius*
- Collin County - One of the Fastest-Growing Counties in Texas, Adding Almost 100 New Residents Every Day
- Proximity to Major Employment Hubs in McKinney, Allen, and Plano
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