Multifamily Investment with
For Sale
$3,400,000
722 N Sharp Street, Franklin, TX 77856
16-unit complex of eight 3-bedroom, 2-bath duplexes, fully leased and producing current cash flow with tenant-paid utilities.
Property Size20,800 SF
Price / SF$163.46
Days on Market198
Property Features for 722 N Sharp Street
General Information
Standard status
Active
Size
20,800 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
16
Taxes and HOA fees
Annual Taxes
$31,973
Amenities
Laminate,Plank,Tile,Vinyl
Yes
2
3
Window Coverings
Washer Hookup,Dryer Hookup
Appraiser
Window Treatments
Partial
60950
More than Two
20800
Building Details
Building Size
20,800 SF
Year Built
2008
Stories
1
Tenancy
Multi
Listing Agency:
Texas Ally Real Estate Group, LLC
(512) 763-2559
Listed By:
Mordekhai Harroch · License #0725110
(832) 388-3125
Source:
Garygreene
Added: Apr 18
Changed: Oct 31
Last Checked: Nov 1 at 3:07AM
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 Texas Ally Real Estate Group, LLC
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Investment Insights
Based on property information with market context.
This well-maintained 16-unit multifamily property consists of eight duplexes, each featuring an all-3-bedroom, 2-bath layout. The asset is fully leased and currently generating cash flow, with tenants responsible for utilities. Recent capital improvements include new roofs and gutters, HVAC upgrades, and interior renovations, which have been completed to reduce near-term capital needs.
The property is located in Franklin, TX, within 20 minutes of Bryan/College Station and offers access to nearby manufacturing and industrial employment.
Additional operational features noted for the property include washer/dryer connections in place, along with on-site management and existing vendor relationships intended to support a smooth transition. Current rents are stated to range from $1,300 to $1,400, with approximately $190K–$200K in NOI.
The property is located in Franklin, TX, within 20 minutes of Bryan/College Station and offers access to nearby manufacturing and industrial employment.
Additional operational features noted for the property include washer/dryer connections in place, along with on-site management and existing vendor relationships intended to support a smooth transition. Current rents are stated to range from $1,300 to $1,400, with approximately $190K–$200K in NOI.
Key Highlights
- 16‑unit multifamily in Franklin, TX: eight duplexes with an all‑3‑bedroom, 2‑bath layout
- Fully leased and producing current cash flow; tenants pay utilities
- Nearly $200K in capital improvements, including new roofs and gutters, HVAC upgrades, and interior renovations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$199,536
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,990,720
$4.0M
Cap Rate 7%
$2,850,514
$2.9M
Cap Rate 9%
$2,217,067
$2.2M
Market Conditions
NOI Build-Up for 20,800 SF
Gross rent
$381.9K $18.36/SF
− Vacancy
−$19.1K −$0.92/SF
EGI
$362.8K $17.44/SF
− OpEx
−$163.3K −$7.85/SF
NOI
$199.5K $9.59/SF
Area
Robertson County, TX
Vacancy
5.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,990,720
Cap Rate 7%
$2,850,514
Cap Rate 9%
$2,217,067
Alternative Uses
Best Use
Apartment 5plus
$2.85M
$2.49M – $3.33M
NOI $199,536 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.12M
$4.48M – $5.98M
NOI $358,525 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
16
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 77856, TX
5,170
Population
2,642
Households
2
Avg Household Size
44
Median Age
23%
College-Educated
89%
High-School Grad
372.7 sq mi
ZIP Area
14
Density / Sq Mi
$90,889
Median Household Income
$47,207
Median Earnings
$919
Median Rent
$245,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - 16-unit complex of eight 3-bedroom, 2-bath duplexes, fully leased and producing current cash flow with tenant-paid utilities.
Where is this apartment building located?
The property is located at 722 N Sharp Street Franklin, TX.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 16‑unit multifamily in Franklin, TX: eight duplexes with an all‑3‑bedroom, 2‑bath layout; Fully leased and producing current cash flow; tenants pay utilities; Nearly $200K in capital improvements, including new roofs and gutters, HVAC upgrades, and interior renovations
