16-Unit Apartment
For Sale
$3,400,000
722 N Sharp Street, Franklin, TX 77856
Eight duplex residences feature consistent three-bedroom, two-bath layouts with washer and dryer hookups.
Property Size20,800 SF
Price / SF$163.46
Days on Market110
Property Features for 722 N Sharp Street
General Information
Standard status
Active
Size
20,800 SF
Property subtype
Multi-Family
Occupancy
100%
Net Operating Income
$200,000
Units
Unit Mix
16 x 3BR/2BA
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
Buildings
8
Stories
1
Listing Agency:
Compass RE Texas, LLC - Houston
(832) 465-9306
Listed By:
Sarah Brown
(832) 465-9306
Source:
Garygreene
Added: Apr 18
Changed: Aug 5
Last Checked: Aug 5 at 4:39AM
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 Compass RE Texas, LLC - Houston
Investment Insights
Based on property information with market context.
Built in 2008, this 20,800-square-foot apartment property at 722 N Sharp Street comprises 16 units arranged as eight duplexes. Every residence offers a three-bedroom, two-bath configuration, creating a consistent layout across the community. The property is fully leased, and tenants pay their own utilities. Washer and dryer connections are already installed in the units.
Capital work has included roof and gutter replacement, HVAC upgrades, and interior renovations. On-site management and established vendor relationships are in place. Franklin is within 20 minutes of Bryan and College Station, providing access to employment associated with nearby manufacturing and industrial operations.
Capital work has included roof and gutter replacement, HVAC upgrades, and interior renovations. On-site management and established vendor relationships are in place. Franklin is within 20 minutes of Bryan and College Station, providing access to employment associated with nearby manufacturing and industrial operations.
Key Highlights
- 16 units configured as 8 duplexes
- All residences feature 3 bedrooms and 2 baths
- 20,800 SF apartment property built in 2008
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $381.9k | $18.36 |
| − Vacancy | −$19.1k | −$0.92 |
| EGI | $362.8k | $17.44 |
| − OpEx | −$163.3k | −$7.85 |
| NOI | $199.5k | $9.59 |
20,800 SF · lease $18.36/SF/yr · vacancy 5.00% · expense 45.00%
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.
Property Analytics
Current Use
Lease Details
16
Residential units
100%
Occupancy
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight duplex residences feature consistent three-bedroom, two-bath layouts with washer and dryer hookups.
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 units configured as 8 duplexes; All residences feature 3 bedrooms and 2 baths; 20,800 SF apartment property built in 2008
