645 Canada St Jacksonville, TX 75766
- Residential income homes
- 57,092 SF
Current Use by Public Records
- Residential income homes
Property Details for 645 Canada St
- Property size
- 57,092 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a stabilized multifamily portfolio comprising 91 units across ten buildings in East Texas. Located in Jacksonville and Palestine, this portfolio includes four distinct properties: Little Creek Apartments (41 units) and Deaton Duplexes (8 units) in Jacksonville, Cherokee County; and Parkview Apartments (20 units) and Green Oaks Apartments (22 units) in Palestine, Anderson County. The portfolio boasts a total of 57,092 square feet of net rentable space, spread across two-story buildings. Currently operating at a 95% occupancy rate, the portfolio generates a strong net operating income (NOI) of $408,062, resulting in an attractive 8% capitalization rate. Each unit is equipped with essential appliances including dishwashers, refrigerators, and electric stoves/ovens. The property is currently managed in-house, with two units dedicated as offices. A seller's note is assumable for the entire portfolio. This presents a rare opportunity to acquire a well-maintained, high-performing multifamily portfolio in a growing market, with a price per unit of $56,052. The portfolio is classified as Class C. Further details are available upon request.
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
- Jacksonville
- County
- Cherokee
- State
- Texas
- Longitude
- -95.2613294
- Latitude
- 31.9562759
