Raintree Apartments
32 Unit Apartment Building | $950,000 ($29,688/Unit) | Eastland, TX 76448
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $950,000
- Sale Condition
- High Vacancy Property
- Property Type
-
Multifamily
- Square Feet
- 12,340 SF
Listing Contacts
Greg Brownd
Verified Profile
- Property Info
Property Overview
Property Description
Raintree is a 32 unit apartment complex plus 24 self storage units. The unit mix includes 4 one bedroom units, 23 two bedroom units, 5 three bedroom units, and 24 mini storage 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 28 of the units to get them made ready and upgraded to similar properties.
Location Description
Eastland is between Fort Worth and Abilene on I20. The population is a little over 3,600. The property is south of downtown Eastland and directly west, across the street from the high school.
Highlights
32 Apartment Units
24 Self Storage Units
Across from Eastland High School
Only 1.5 hours west of Fort Worth on I20
Raintree is a 32 unit apartment complex plus 24 self storage units. The unit mix includes 4 one bedroom units, 23 two bedroom units, 5 three bedroom units, and 24 mini storage 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 28 of the units to get them made ready and upgraded to similar properties.
Location Description
Eastland is between Fort Worth and Abilene on I20. The population is a little over 3,600. The property is south of downtown Eastland and directly west, across the street from the high school.
Highlights
32 Apartment Units
24 Self Storage Units
Across from Eastland High School
Only 1.5 hours west of Fort Worth on I20
Property Details
- Class
- C
- Year Built
- 1970
- Stories
- 1
- Lot Size (sq. ft)
- 20,473 SF
- Units
- 32
Highlights
- 32 Apartment Units
- 24 Self Storage Units
- Across from Eastland High School
- Only 1.5 hours west of Fort Worth on I20
Nearby Properties
Similar 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].