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32304441
32304437

3551 East Broadway Street, Gainesville, TX 76240 For Sale

PC
UT UT 11976924-SA00
Equity Real Estate (American Fork)
Listed by Equity Real Estate (American Fork)
$54,900,000
75 days on market
Updated 68 days ago

Rock Creek

Details
APN 82476
Property Type Multifamily
Sub Type Apartment Building
Units 1244
Pro-Forma Cap Rate 25.16%
Pro-Forma NOI $13,811,973
Class A
Year Built 2026
Buildings 18
Acreage 27.740
Zoning MF-2

921 Unit Apartment Project

Marketing description

Introducing a premier large-scale residential community in the heart of Gainesville, Texas, thoughtfully designed to meet the region’s growing housing demand. Spanning multiple phases, this 921-unit apartment development will feature 18 well-planned buildings, creating a cohesive, amenity-rich environment for residents seeking both comfort and convenience.

The first phase—comprised of 208 units—is nearing completion of construction, positioning the project for near-term lease-up and immediate momentum. Additionally, entitlements have been completed and impact fees have already been paid on the first 754 units, significantly de-risking future phases and streamlining the path to continued development. We are currently completing the entitlements on the remaining 167 units and all entitlements will be included in the sale.

Strategically located just a short 15-minute drive (approximately 13 miles) from WinStar World Casino and Resort—the largest casino in the United States and a major regional employer with over 3,600 employees—the community benefits from a strong and stable demand driver. Its proximity to this employment hub, combined with convenient access to major transportation routes, places residents within easy reach of jobs, entertainment, and retail.

As Gainesville continues to experience steady growth, this community represents a rare opportunity to deliver high-quality housing at scale in a supply-constrained market—offering both immediate leasing potential and a clear, de-risked path for future expansion.

Investment highlights

Impact Fees Paid for 754 Units

Construction nearly completed on 208 units

Listing Contacts

PC
UT UT 11976924-SA00
Equity Real Estate (American Fork)
Listed by Equity Real Estate (American Fork)

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