653 Henry Hynds Expy Van Alstyne, TX 75495

This 37-unit apartment building, located at 653 Henry Hynds Expy, Van Alstyne, TX 75495, offers a compelling investment opportunity. The property boasts a total of 26,300 square feet of net rentable space and was originally constructed in 1986. However, a recent, extensive renovation exceeding $3,100,000 has transformed the property. This comprehensive renovation included a complete overhaul, encompassing new roofs, plumbing, electrical systems, drywall, drainage improvements, HVAC systems, hot water heaters, flooring, subflooring, appliances, countertops, fixtures, windows, and parking lot resurfacing, along with foundation repairs. While a few units are nearing completion of their final renovations, the property will be essentially turnkey for the new owner. The strategic location along Highway 75, between the rapidly growing cities of Sherman and McKinney, Texas, places the property within a high-growth corridor. This area is experiencing significant population expansion driven by factors such as affordable housing, quality schools, and job opportunities. The nearby city of Anna has seen remarkable population growth, nearly tripling in size since 2010. Further bolstering the investment potential is the recent announcement of a major development project in Van Alstyne: Centurion American's planned 667-acre development, encompassing 2,200 new single-family homes, is set to commence in August 2024. This significant influx of new residents will further enhance the demand for rental housing in the area. This property presents a rare opportunity to acquire a fully renovated, well-located multifamily asset in a booming Texas market.