2269 Oak St Denton, TX 76201
- Commercial real estate
- 89,185 SF
- 4.54 lot acres
Current Use by Public Records
- Clusters Apartments / Apartment Building
- Valons Associates / Apartment Building
Property Details for 2269 Oak St
- Year built
- 1972
- Lot size
- 4.54 lot acres
- Property size
- 89,185 SF
- Property type
- Commercial real estate
Description
This exceptional 138-unit multifamily investment portfolio is located in Denton, Texas. Comprising nineteen buildings across 4.539 acres, this Class B property offers a compelling value-add opportunity. The portfolio boasts 89,185 square feet of net rentable space, currently operating at 91% occupancy, generating a strong net operating income (NOI) of $860,681. The units, built between 1972 and 2001, have undergone recent renovations in 2021 and 2022, including upgrades to vinyl flooring, fresh paint, and updated bathrooms in many units. Two of the properties are conveniently located within walking distance of each other and are situated on the bus route to the University of North Texas (UNT), providing excellent access to a large student population. The property is offered as a fee simple ownership and is available for a 1031 exchange. The current mortgage is assumable, with interest rates ranging from 4.62% to 4.78%. This portfolio presents a rare chance to acquire a well-maintained, high-performing multifamily asset with significant upside potential in a thriving Texas market. The two-story buildings offer a manageable layout, and the existing renovations provide a solid foundation for future value enhancement. The strong NOI and high occupancy rate demonstrate the property's current profitability and potential for growth.
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
- Denton
- County
- Denton
- State
- Texas
- Longitude
- -97.1592878
- Latitude
- 33.215122
