Current Use by Public Records
- Archer Village Apartments / Real Estate Agency
- Twelve 6 Ten At The Park / Apartment Building
- Woodside-Bridle Path | Apartments in Dallas, TX / Apartment Building
Property Details for 415 Archer Cir
- Year built
- 1973
- Lot size
- 8.13 lot acres
- Property type
- Apartment buildings
Description
This 197-unit apartment complex, Archer Village Apartments, presents a compelling value-add investment opportunity in Sherman, Texas. Located at 415 Archer Cir, Sherman, TX 75092, this Class C multifamily property boasts 138,420 net rentable square feet spread across 14 two-story buildings situated on 8.126 acres. Built in 1973, the property comprises a mix of studio, one-bedroom, and two-bedroom units, averaging 716 square feet each. The current owner has completed significant capital improvement projects, minimizing deferred maintenance and positioning the property for immediate revenue generation. Sherman's robust economic outlook, fueled by a projected $40 billion in private investments and 5,000 new jobs over the next 3-5 years, promises substantial rent growth. This growth is driven by a major expansion in computer chip manufacturing, expected to increase the local job market by approximately 20%. Furthermore, a $196 million highway infrastructure project is underway, anticipating significant population and job growth. The property's current stable cash flow, low deferred maintenance, and location in a low-supply market make it an attractive investment with significant upside potential. The property offers a unique opportunity to implement a programmatic upgrade plan to further enhance profitability in this high-growth market, an hour north of Dallas via Highway 75.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sherman
- County
- Grayson
- State
- Texas
- Longitude
- -96.6332
- Latitude
- 33.6335
