2900 S Fm 225 Henderson, TX 75654

Property Details for 2900 S Fm 225

Year built

1982

Lot size

12.00 lot acres

Property size

681 SF

Property type

Commercial real estate

APN

4643,31140,10145

Description

This exceptional 80-unit apartment community, situated on 12 acres in Henderson, Texas (75654), presents a compelling investment opportunity. The property, comprised of 42 single-story buildings, boasts 68,920 square feet of net rentable space, with unit sizes ranging from 681 to 993 square feet. Built in 1982 and extensively renovated between 2015 and 2017, the complex features a mix of one, two, and three-bedroom layouts. Currently operating at 96% occupancy (with a projected 100% occupancy by December 10, 2024), the property generates significant income. All 42 buildings received new roofs in June 2023, covered by a transferable 20-year warranty. The property includes an on-site leasing office, laundry facilities, a maintenance shop, and ample storage. Its convenient location offers easy access to shopping and dining. The property also includes an adjacent 1.5-acre vacant lot, zoned multi-family, with existing utilities, presenting potential for expansion or amenity additions. This Class B multifamily asset offers a strong track record of performance, with professional management ensuring tenant satisfaction and minimizing capital expenditures. The asking price is $6,200,000, representing a price per unit of $77,500. The property is offered with 100% ownership and is for sale by owner. A current survey is available for each address. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property with significant upside potential.

Location Insight

City

Henderson

County

Rusk

State

Texas

Longitude

-94.810018

Latitude

32.1233751