Listing ID: 20179643
Price: $8,000,000
Address: 820 N Sam Rayburn Freeway
City: Sherman
State: Texas
Postal Code: 75090
Acres: 3.071
County: Grayson
Sherman
TX
75090
Incredible investment opportunity!!! 68-unit senior living apartment complex in the heart of Sherman. All units are occupied and there is a waiting list. This complex has a wonderful, experienced property manager that would like to stay after the completion of the sale. All units have an all-bills-paid leasing agreement. Located in a great neighborhood with convenient access to highway 75. Please contact listing agent for more information.

Primary Features

County: Grayson
Property Sub Type: Apartment
Property Type: Residential Income
Subdivision: MCANAIR
Year Built: 1968

Interior

Accessory Unit: yes
Accessory Unit Type: Other
Appliances: Dishwasher, Electric Range
Basement: no
Cooling: Ceiling Fan(s), Central Air, Electric
Flooring: Carpet, Tile, Vinyl
Heating: Central, Electric
Interior Features: Built-in Features, Cable TV Available, High Speed Internet Available
Levels: Two

External

Attached Garage: no
Carport Spaces: 2
Construction Materials: Brick
Covered Spaces: 2
Exterior Features: Covered Patio/Porch, Rain Gutters, Uncovered Courtyard
Fencing: Wood
Foundation Details: Slab
Garage: no
Horse Permitted: no
Lot Features: Acreage, Interior Lot
Lot Size: 3 to < 5 Acres
Lot Size Area: 3.071
Lot Size Square Feet: 133772.76
Lot Size Units: Acres
Number Of Buildings: 10
Number Of Parking Spaces: 112
Number Of Units Total: 68
Parking Features: Assigned, Covered, Parking Lot, Paved, Varies by Unit
Patio And Porch Features: Covered, Side Porch
Pool: yes
Pool Features: In Ground
Roof: Composition
Utilities: All Weather Road, City Sewer, City Water
Window Features: Window Coverings

Location

Association Type: None
Building Area Source: Public Records
Building Area Total: 65986
Community Features: Community Pool, Perimeter Fencing
Country: United States
Directions: From highway 75 south, exit for Travis Street and continue on Sam Rayburn access road. Entrance is between Birge and Brockett Streets. There is also an entrance from Woods Street; turn on College Street and head straight.
Elementary School: Wakefield
Elementary School Name: Wakefield
High School Name: Sherman
Middle School Name: Piner
School District: Sherman ISD
Senior Community: yes
Waterfront: no

Additional

Accessibility Features: yes
Accessibility Features Type: Accessible Approach with Ramp, Accessible Bedroom, Accessible Doors, Accessible Grip
Complex Name: Concord Village Apartment
Consent Required to Record: None
Dual Variable Compensation: no
Municipal Utility District: no
Property Match: APN
Second Mortgage: no
Smart Home Features: no
Special Notes: Aerial Photo, Age-Restricted
Status: Active Option Contract
Tenancy: Lease While on Market, No Smoking, Over 9 Months
US Property MUI: 406130022
Will Subdivide: No
Year Built Details: Preowned

Financial

Capitalization Rate: 6.97
Current Price/Lot Size: 2605014.65321
Gross Annual Expenses: 209057
Gross Annual Income: 805000
Insurance Expense: 38727
Listing Terms: 1031 Exchange, Cash, Contact Agent, Conventional
Net Operation Income: 557216
Operating Expense Includes: Insurance, Maintenance, Maintenance Grounds, Maintenance Structure, Manager, Parking, Pool/Spa, Staff, Supplies, Trash, Utilities, Water/Sewer
Possession: Closing/Funding, Lease Outstanding, Subject to Lease
Unexempt Taxes: 63320

Zoning Info


© 2023 North Texas Real Estate Information Systems. All rights reserved. Information is deemed reliable, but is not guaranteed accurate by the MLS or NTREIS. The information being provided is for the consumers personal, non-commercial use, and may not be reproduced, redistributed or used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The offer is made only to Participants of the MLS where the listing is filed. Data last updated: Sunday, February 5th, 2023 at 12:03:03 AM.
#IDX-primaryPhoto,#idx-details-header Listed by: Stacey Olmstead from Paragon, Realtors 903-893-8174

Contact - Listing ID 20179643

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Rhine Realty

101 E Main Street
Decatur, TX 76234
Phone: 9406269770
Phone Alt: 9406269770

Data services provided by IDX Broker
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