517 Travis St, Sherman, TX 75090

Property Details for 517 Travis St

Year built

1930

Property type

Commercial real estate

Description

This exceptional 13-unit apartment building in Sherman, Texas presents a compelling investment opportunity. Priced at $1,100,000, this multifamily property boasts a strong 8.04% cap rate and a remarkable 100% occupancy rate. The property comprises two buildings, each two stories high, constructed in 1930 and 1950, and extensively renovated in 2000. The 13 units offer a diverse mix of efficiencies, one-bedroom, and two-bedroom apartments, catering to a wide range of tenants. Two-bedroom units include convenient washer/dryer hookups, and all residents benefit from ample on-site parking and the added convenience of on-site laundry facilities. Located just blocks from downtown Sherman, the property enjoys easy access to the downtown square and major highways, ensuring high demand and consistent occupancy. Recent capital improvements include new roofs (September 2024), a new south-side fence (August 2024), and a new duplex stairwell (September 2024). The property's strong performance, evidenced by an average 97.5% occupancy over the past five years, and its strategic location make it an ideal investment for discerning buyers seeking a stable, income-generating asset in a thriving Texas market. The property is currently self-managed, offering potential for increased profitability through professional management. The price per unit is $84,615.38, reflecting the property's value and potential for future appreciation. The Net Operating Income (NOI) is $88,467. This is a turnkey investment ready for immediate cash flow. The address is 517 S Travis St, Sherman, TX 75090.

Location Insight

City

Sherman

County

Grayson

State

Texas

Longitude

-96.6076933

Latitude

33.63234