121 Hampton Rd, Crowley, TX 76036
76 Unit Apartment Building | For Sale | Crowley, TX 76036
For Sale
Active
- Property Type
-
Multifamily
- Square Feet
- 74,514 SF
Listing Contacts
Chris Deuillet
Jaxx Davies
Matthew Pastrano
Property Overview
Compelling Property Characteristics
• Oversized floor plans with an average unit size of 1,006 SF
• Complete array of floor plans from one-bedroom to large, highly desirable three-bedroom units.
• Desirable unit mix with approximately 72% two- and three-bedroom units
• Located adjacent to Main Street that offers
Value Creation
Maximizing Rents through Continued Interior Renovation Program
- Current ownership has implemented an interior renovation program on 57 units. The prospective buyer has the ability to bring classic units to the renovated finish to achieve a $100 premium.
Install Washer/Connection
- Four units currently have full-size washer/dryer connections & appliances. 32 of the two-and-three-bedroom units have ample space to install washer/dryer connections. Upon installation, new ownership will achieve a monthly premium of $50.
Private Yard Premium
- Hampton Townhomes currently has 20 units that have over-sized fenced-in private yards. The premium associated with these units are $50-$100 varying on unit location. New ownership will have the opportunity to complete private fencing on 12 additional units to capture additional premium.
Reserved Parking
- Currently there are 5 reserved parking spaces that are leased at $20 per month. The property boasts ample room for 8 additional reserved parking spaces to be leased at $20 per month.
Recent Revitalization in Crowley
- Since 2018, the City of Crowley has added a new City Hall, an expanded Fire Station, Police Headquarters along Main Street with additional restaurants, including Fast Tacos, Boo Ray’s Cajun Dining and local coffee houses. Additional funding allowed for two round-about directional traffic with pedestrian friendly walkways to greater increase the main street experience.
Strong Local Demand Drivers
- The median household income within a one-mile radius of Hampton Townhomes is $83,871, well-surpassing the property’s 3x rent qualification of $50,976.
- The property is located within 7 miles of Carter Industrial Park which consists of more than 10 million square feet of industrial space.
• Oversized floor plans with an average unit size of 1,006 SF
• Complete array of floor plans from one-bedroom to large, highly desirable three-bedroom units.
• Desirable unit mix with approximately 72% two- and three-bedroom units
• Located adjacent to Main Street that offers
Value Creation
Maximizing Rents through Continued Interior Renovation Program
- Current ownership has implemented an interior renovation program on 57 units. The prospective buyer has the ability to bring classic units to the renovated finish to achieve a $100 premium.
Install Washer/Connection
- Four units currently have full-size washer/dryer connections & appliances. 32 of the two-and-three-bedroom units have ample space to install washer/dryer connections. Upon installation, new ownership will achieve a monthly premium of $50.
Private Yard Premium
- Hampton Townhomes currently has 20 units that have over-sized fenced-in private yards. The premium associated with these units are $50-$100 varying on unit location. New ownership will have the opportunity to complete private fencing on 12 additional units to capture additional premium.
Reserved Parking
- Currently there are 5 reserved parking spaces that are leased at $20 per month. The property boasts ample room for 8 additional reserved parking spaces to be leased at $20 per month.
Recent Revitalization in Crowley
- Since 2018, the City of Crowley has added a new City Hall, an expanded Fire Station, Police Headquarters along Main Street with additional restaurants, including Fast Tacos, Boo Ray’s Cajun Dining and local coffee houses. Additional funding allowed for two round-about directional traffic with pedestrian friendly walkways to greater increase the main street experience.
Strong Local Demand Drivers
- The median household income within a one-mile radius of Hampton Townhomes is $83,871, well-surpassing the property’s 3x rent qualification of $50,976.
- The property is located within 7 miles of Carter Industrial Park which consists of more than 10 million square feet of industrial space.
Property Details
- Class
- C
- Year Built
- 1983
- Stories
- 2
- Lot Size (sq. ft)
- 164,221 SF
- Units
- 76
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