607 Pecan St, Hughes Springs, TX 75656
74 Apartment Units | Online Auction Sale | Hughes Springs, TX 75656
For Sale
Active
- Property Type
-
Multifamily
- Square Feet
- 62,770 SF
Listing Contacts
- Property Info
Property Overview
Lee & Associates is pleased to exclusively present the opportunity to acquire the fee simple interest in 607 S Pecan Street, the Patman Switch Apartments. This cash-flowing investment comprises 74 two-bedroom apartments across 17 buildings on 7.79 acres near the downtown area of Hughes Springs, Texas.
The well-maintained community was originally built in 1979 and is equipped with desirable features, including on-site laundry facilities, a playground, a basketball court, and abundant parking with 98 spaces. The units boast washer/dryer connections, walk-in closets, separate meters for gas and electricity, and air conditioning sleeves. The community includes 100% affordable housing units, on a mark-to-market agreement through 2031 with a 100% project-based Section 8 subsidy contract.
The Patman Switch Apartments complex is located less than 1 mile from Highway 11, the main artery of Hughes Springs. This highway provides easy connections to the nearby 49 and 259 Highways and the 20 and 30 Freeways. This prime location places residents within minutes of shopping and dining amenities. Nearby popular local businesses include Med Shop Pharmacy, Hill’s Grocery Store, Snack Shack, Don Juan’s Mexican, and Venice Pizza. There are also locations for national retailers, including H&R Block, Dollar General, Jiffy Lube, Sonic Drive-In, and Subway. The investment sits within a Designated Opportunity Zone, providing bidders with significant potential capital gains tax incentives.
Straddling the border of Morris and Cass Counties, Hughes Springs is a vibrant community located approximately 136 miles East of Dallas. The town is centrally located between Tyler, Shreveport, and Texarkana, providing residents with convenient access to urban amenities. Hughes Springs offers a significant pool of potential residents for multifamily investors, with 38% of the 10-mile population currently renting their homes.
Seize a performing affordable multifamily community with significant operational upside at 607 S Pecan Street, the Patman Switch Apartments.
Listed by George Tanghongs with Lee & Associates, TX License #0445363
The well-maintained community was originally built in 1979 and is equipped with desirable features, including on-site laundry facilities, a playground, a basketball court, and abundant parking with 98 spaces. The units boast washer/dryer connections, walk-in closets, separate meters for gas and electricity, and air conditioning sleeves. The community includes 100% affordable housing units, on a mark-to-market agreement through 2031 with a 100% project-based Section 8 subsidy contract.
The Patman Switch Apartments complex is located less than 1 mile from Highway 11, the main artery of Hughes Springs. This highway provides easy connections to the nearby 49 and 259 Highways and the 20 and 30 Freeways. This prime location places residents within minutes of shopping and dining amenities. Nearby popular local businesses include Med Shop Pharmacy, Hill’s Grocery Store, Snack Shack, Don Juan’s Mexican, and Venice Pizza. There are also locations for national retailers, including H&R Block, Dollar General, Jiffy Lube, Sonic Drive-In, and Subway. The investment sits within a Designated Opportunity Zone, providing bidders with significant potential capital gains tax incentives.
Straddling the border of Morris and Cass Counties, Hughes Springs is a vibrant community located approximately 136 miles East of Dallas. The town is centrally located between Tyler, Shreveport, and Texarkana, providing residents with convenient access to urban amenities. Hughes Springs offers a significant pool of potential residents for multifamily investors, with 38% of the 10-mile population currently renting their homes.
Seize a performing affordable multifamily community with significant operational upside at 607 S Pecan Street, the Patman Switch Apartments.
Listed by George Tanghongs with Lee & Associates, TX License #0445363
Property Details
- Class
- C
- Year Built
- 1979
- Stories
- 1
- Lot Size (sq. ft)
- 339,332 SF
- Units
- 74
Highlights
- Patman Switch Apartments comprises 74 affordable housing units on a mark-to-market agreement through 2031 with a 100% Section 8 subsidy contract.
- This prime location places residents with easy access to Highway 11, 49, and 259, near the town’s most popular dining and shopping amenities.
- Community amenities include on-site laundry facilities, a large surface parking lot with 98 spaces, a playground, and a basketball court.
- High-demand two-bedroom units with washer/dryer hookups, walk-in closets, air condition sleeves, and separate meters for gas and electricity.
Nearby Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].