24-Unit Apartment
For Sale
$4,300,000
2404 Louise Street # 2404 & 2420, Denton, TX 76201
Two separate buildings combine established rental inventory with renovated interiors and updated mechanical systems.
Property Size9,720 SF
Price / SF$442.39
Days on Market12
Property Features for 2404 Louise Street # 2404 & 2420
General Information
Standard status
Active
Size
9,720 SF
Property subtype
Residential Income
Units
Unit Mix
23 x 2BR/1BA
Multifamily Units
24
Additional Details
Tenant in Place
Yes
Amenities
Carpet,Luxury Vinyl Plank
2
24
Combo
92
47
Cable TV Available,Granite Counters,High Speed Internet Available,Multiple Staircases
Chain Link,Wood
.5 to < 1 Acre
Slab
Corner Lot,Level
0.7200
Acres
Common,Concrete,Parking Lot
Covered Courtyard,Lighting
9720.00
31363.2000
34
Building Details
Building Size
9,720 SF
Year Built
1967
Buildings
2
Listing Agency:
Star Realty
(817) 402-2342
Listed By:
Tiffany McDonald
Source:
Focusonhomesrealty
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 28 at 2:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Star Realty
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Investment Insights
Based on property information with market context.
Two apartment buildings contain 24 units across 9,720 square feet, with 12 units in each building. All but one apartment has a two-bedroom, one-bath layout. Interior finishes include carpet and luxury vinyl plank, while many units have stainless steel appliances. Several kitchens have been remodeled with additional cabinet space; dishwasher availability varies by unit.
The property occupies a 0.7200-acre corner lot in Denton, one block from the University of North Texas campus. Site features include a covered courtyard, exterior lighting, a concrete parking lot, and multiple staircases.
HVAC systems have been replaced throughout the buildings, and many gas water heaters have also been replaced. Most flooring and paint work was completed within the last two years. The buildings were constructed in 1967.
The property occupies a 0.7200-acre corner lot in Denton, one block from the University of North Texas campus. Site features include a covered courtyard, exterior lighting, a concrete parking lot, and multiple staircases.
HVAC systems have been replaced throughout the buildings, and many gas water heaters have also been replaced. Most flooring and paint work was completed within the last two years. The buildings were constructed in 1967.
Key Highlights
- 24 apartments across two buildings, with 12 units in each
- 9,720 square feet on a 0.7200‑acre corner lot
- All but one unit has a two‑bedroom, one‑bath layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$147,802
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,956,040
$3.0M
Cap Rate 7%
$2,111,457
$2.1M
Cap Rate 9%
$1,642,244
$1.6M
Market Conditions
NOI Build-Up for 9,720 SF
Gross rent
$300.9K $30.96/SF
− Vacancy
−$32.2K −$3.31/SF
EGI
$268.7K $27.65/SF
− OpEx
−$120.9K −$12.44/SF
NOI
$147.8K $15.21/SF
Area
Denton, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,956,040
Cap Rate 7%
$2,111,457
Cap Rate 9%
$1,642,244
Alternative Uses
Best Use
Apartment 5plus
$2.11M
$1.85M – $2.46M
NOI $147,802 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.04M
$2.66M – $3.54M
NOI $212,579 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
1,110
Businesses Nearby
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Business Placement
Demographics for 76201, TX
27,610
Population
13,087
Households
2.1
Avg Household Size
26
Median Age
46%
College-Educated
95%
High-School Grad
5.5 sq mi
ZIP Area
5,020
Density / Sq Mi
$37,863
Median Household Income
$18,308
Median Earnings
$1,128
Median Rent
$250,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two separate buildings combine established rental inventory with renovated interiors and updated mechanical systems.
Where is this apartment building located?
The property is located at 2404 Louise Street # 2404 & 2420 Denton, TX.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: 24 apartments across two buildings, with 12 units in each; 9,720 square feet on a 0.7200‑acre corner lot; All but one unit has a two‑bedroom, one‑bath layout
