Ridgecrest Apartments
48 Unit Apartment Building | $1,200,000 ($25,000/Unit) | Breckenridge, TX 76424
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,200,000
- Sale Condition
- High Vacancy Property
- Property Type
-
Multifamily
- Square Feet
- 55,906 SF
Listing Contacts
Greg Brownd
Verified Profile
- Property Info
Property Overview
Property Description
Ridgecrest is a 48 unit complex in Breckenridge, TX that has 24 one bedroom units and 24 two bedroom units. The electric is separately metered and tenants pay. Owner currently pays for water/sewer/and trash. This is a value add opportunity, property currently has low occupancy, and the water bill could be allocated back to the tenants to improve NOI. The projected returns on the proforma cash flows are based on investing $5,000/unit for 19 of the units to get them made ready and upgraded to similar properties.
Location Description
Breckenridge is located on Hwy 180, less than 2 hours west of Fort Worth, by Hubbard Creek Lake. The population is a little over 5,200. The property is located on the north side of the main east/west highway through town within walking distance of Wal Mart, Tractor Supply, and McDonalds.
Highlights
48 units
Walking distance to major employers and amenities
Less than 2 hours west of Fort Worth
Ridgecrest is a 48 unit complex in Breckenridge, TX that has 24 one bedroom units and 24 two bedroom units. The electric is separately metered and tenants pay. Owner currently pays for water/sewer/and trash. This is a value add opportunity, property currently has low occupancy, and the water bill could be allocated back to the tenants to improve NOI. The projected returns on the proforma cash flows are based on investing $5,000/unit for 19 of the units to get them made ready and upgraded to similar properties.
Location Description
Breckenridge is located on Hwy 180, less than 2 hours west of Fort Worth, by Hubbard Creek Lake. The population is a little over 5,200. The property is located on the north side of the main east/west highway through town within walking distance of Wal Mart, Tractor Supply, and McDonalds.
Highlights
48 units
Walking distance to major employers and amenities
Less than 2 hours west of Fort Worth
Property Details
- Class
- C
- Year Built
- 1983
- Stories
- 2
- Lot Size (sq. ft)
- 233,046 SF
- Units
- 48
Highlights
- 48 units
- Walking distance to major employers and amenities
- Less than 2 hours west of Fort Worth
Nearby Properties
Similar Properties
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