106 Melody Ln Wills Point, TX 75169
- Apartment buildings
Current Use by Public Records
- Eastgate Apartments / Apartment Building
Property Details for 106 Melody Ln
- Year built
- 1976
- Property type
- Apartment buildings
Description
This exceptional 16-unit apartment building, located at 106 Melody Ln, Wills Point, TX 75169, presents a compelling value-add opportunity. Constructed in 1976 and boasting recent renovations, the property enjoys a 100% occupancy rate, demonstrating strong tenant demand and market resilience. The property's history showcases significant Effective Gross Income (EGI) growth, exceeding market averages, further highlighting its financial strength. This consistent performance underscores the ability to successfully implement rental rate increases. Situated in a thriving submarket within Van Zandt County, this investment benefits from a limited rental housing supply, creating a unique opportunity for investors seeking to capitalize on a supply-constrained market with positive economic indicators. The strong demographics of the area contribute to the property's sustained success and potential for future growth. This is an ideal investment for those seeking a stable, high-performing asset in a rapidly growing Texas town.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wills Point
- County
- Van Zandt
- State
- Texas
- Longitude
- -95.99
- Latitude
- 32.6981
