501 Reed St

    Frankston, TX 75763
    • $729,000
    • STATUS: Active
    • ON SITE: 268 days
    • MLS #: 10082098
    UPDATED: 49 min ago
    $729,000
    • 0
      BEDS
    • 1.75
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1980
    County:
    Area:

    School Ratings & Info

    Description

    20 unit apartment available in Frankston for sale. The tenant base has been stabilized with a 90% plus occupancy over the last year as most units have been remodeled. There are 2 buildings with 10 apartments each with over 15,000 sq ft of total living space. Each unit is 2 bedroom/1 bath, with 10 upstairs and 10 downstairs. Apartment demand has been excellent as vacancies are filled quickly and there is currently a waiting list for the next available unit. Financials available upon request in this stabilized Class C apartment complex with an excellent cash flow. The current off site manager is available to continue her excellent management job if the new owner desires to keep her in this role. There is room for additional apartments, self storage units, etc.

    Monthly Payment Calculator

    The data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) of the Greater Tyler Association of REALTORS® Multiple Listing Service. The IDX logo indicates listings of other real estate firms that are identified in the detailed listing information. This information is deemed reliable, but not guaranteed. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2018-02-22T22:29:03.833.
    www.tylerhousehunters.com/homes/73051748

    501 Reed St Frankston, TX 75763

    • Price: $729,000
    • Status: Active
    • Updated: 49 min ago
    • MLS #: 10082098
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.75
    Acres
    1980
    Built
    Neighborhood:
    Anderson
    County:
    Anderson
    Area:
    Anderson
    Property Description
    20 unit apartment available in Frankston for sale. The tenant base has been stabilized with a 90% plus occupancy over the last year as most units have been remodeled. There are 2 buildings with 10 apartments each with over 15,000 sq ft of total living space. Each unit is 2 bedroom/1 bath, with 10 upstairs and 10 downstairs. Apartment demand has been excellent as vacancies are filled quickly and there is currently a waiting list for the next available unit. Financials available upon request in this stabilized Class C apartment complex with an excellent cash flow. The current off site manager is available to continue her excellent management job if the new owner desires to keep her in this role. There is room for additional apartments, self storage units, etc.
    Exterior Features

    Acres Cleared Percent 100 Construction Brick VeneerSiding Lot Dimensions 1.75 Acres Parking Off Street Parking Spaces 26-50 Road Surface Asphalt Road Type City/Town Road Soil Type Sandy Loam Topography Level Water View No Waterfront No

    Interior Features

    Ceiling Height Under 10 Feet Cooling Central Electric Eave Height 20-25 Feet Energy Efficiency Other/See Remarks Heating Central Electric

    Property Features

    Available Financing ConventionalCash Building Description Apartments Commercial Type Building Conditions Owner-Agent Current Use None Documents On File Survey Plat Electric Electric Available Gas None Improvements Miscellaneous Building(S) Individual Meters Individual Electric Meter Lease Terms 1 Year Location Inside City Limits Sale Includes Building Security Gate No Sewer Public Sewer Survey Available Plat Tenant Pays ElectricCable Water CommunityWater Available Year Built Source Anderson Cad Zoning Multi Family Dwelling

    Listing provided courtesy of Cameron Realty, Inc.. Listing information © 2018 Greater Tyler Association of REALTORS® Multiple Listing Service.
    The data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) of the Greater Tyler Association of REALTORS® Multiple Listing Service. The IDX logo indicates listings of other real estate firms that are identified in the detailed listing information. This information is deemed reliable, but not guaranteed. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2018-02-22T22:29:03.833.
    RE/MAX Professionals - The Burks Team
    1698 W. Grande
    Tyler TX, 75703