Current Use by Public Records
- Apartment buildings
Property Details for 900 Fordall Rd
- Year built
- 1969
- Lot size
- 12.00 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents the Point North Apartments, a 109-unit multifamily property located at 900 W Fordall Rd, Henderson, TX 75652. The complex comprises ten two-story buildings and bungalow-style flats, totaling 88,980 square feet of net rentable space. The unit mix includes 35 one-bedroom, 50 two-bedroom, and 24 three-bedroom units, averaging 816 square feet each. Built in 1969, the property sits on a 12-acre lot and enjoys a prime location adjacent to Lake Forest Park, offering residents ample recreational opportunities. Henderson's robust economy, driven by industries such as oil, gas, timber, and gravel, presents a stable investment environment. A significant $255 million upgrade to the West Fraser sawmill and the development of a new 300-acre East Texas Regional Business Park further bolster the city's economic outlook. The property benefits from convenient access to major highways including US Route 259 and 79, and Texas State Highways 42, 43, and 64. Henderson's charming historic downtown district adds to the area's appeal. This property is offered free and clear of existing debt, allowing for flexible financing options and maximizing potential returns. The property's assessed value is subject to a 20% annual cap, mitigating potential property tax increases and ensuring consistent cash flow.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Henderson
- County
- Rusk
- State
- Texas
- Longitude
- -94.8093
- Latitude
- 32.1601
