1103 Armstrong Avenue, Denison, Texas 75020

  • $750,000
1103 Armstrong, Texas, United States

1103 Armstrong Avenue, Denison, Texas 75020

1103 Armstrong, Texas, United States
  • $750,000

Overview

Property ID: 14469909
  • 0.7
  • Lot Acres
  • 1946
  • Year Built

Description

Apartment complex is currently under complete renovations for each of the 18 units. Unit #15 renovation started Oct. 19. When that unit is completed, the renovation will be 75% completed. This percentage includes paint and new windows. Once ALL renovations are completed, the yearly gross rental income should be close to $140k with rental increases and new leases. The apartments include 14 studios, 3 one-bedrooms, 1 two-bedroom. Units 8-10 all have leases that end in either January or February 2021. The rest are month to month that have been there for over 5 years and pay by the 3rd of each month like clockwork. Great investment! See transaction desk for potential income breakdown and more information!
  • Address 1103 Armstrong Avenue
  • City Denison
  • State/county Texas
  • Zip/Postal Code 75020
  • Area DENISON (1)
  • Country United States

Details

Updated on February 15, 2021 at 12:00 pm
  • Property ID: 14469909
  • Price: $750,000
  • Property Size: 30012.84 Sq Ft
  • Land Area: 0.689 Acres
  • Year Built: 1946
  • Property Type: Commercial
  • Property Status: Active Option Contract

Additional details

  • Matrix Unique ID: 129300971
  • Matrix Modification DT: 2020-11-19T16:43:51.950
  • MLS: North Texas Real Estate Information Systems
  • List Agent MUI: 50356457
  • List Agent Full Name: Shawna Martinez
  • List Office MUI: 126635830
  • List Office Name: Texas Realty Exchange, LLC
  • Photo Count: 19
  • Photo Modification Timestamp: 2021-02-09T09:33:45.390
  • Street DirPrefix: S
  • Street Name: Armstrong
  • StreetNumber: 1103
  • Street Suffix: Avenue
  • Postal Code Plus4: 6103
  • Property Sub Type: COM-Sale
  • Parcel Number: 147684
  • Average Monthly Lease: 10370
  • Block: 28
  • Building Area Source: Tax
  • Building Use: Other
  • Ceiling Height: Other
  • Commercial Features: Other
  • Construction Materials Walls: Cement
  • Directions: Follow US-377 N and US-82 E to E Hwy 82 in Sherman. Take exit 643 from US-82 E. Take Texoma Pkwy to S Armstrong Ave.
  • Financing Proposed: Cash
  • Flooring: Vinyl
  • Foundation Details: Pier & Beam
  • Freight Doors: No Dock
  • Gross Annual Expenses: 33156
  • Gross Annual Income: 124440
  • Heating: Other,Window Unit
  • Inclusions: Other
  • Income Expense Source: Owner
  • Internet Exposure: Members IDX Websites,REALTOR.com,NTREIS Translator,Realtors Property Resource,Syndicate Listing,Homes.com,Zillow
  • Lot Number: 1
  • Lot Size: .5 Acre to .99 Acre
  • Lot Size Source: Tax
  • MLS Area Major: GRAYSON AREA (37)
  • Net Annual Income: 91284
  • Number Of Stories: 2
  • Number Of Units: 18
  • Owner Pays: Electric,Gas,Insurance,Maintenance,Taxes,Water/Sewer/Trash
  • Permit Address Internet YN: 1
  • Permit AVM YN: 1
  • Permit Internet YN: 1
  • Possession: Closing/Funding
  • Public Remarks: Apartment complex is currently under complete renovations for each of the 18 units. Unit #15 renovation started Oct. 19. When that unit is completed, the renovation will be 75% completed. This percentage includes paint and new windows. Once ALL renovations are completed, the yearly gross rental income should be close to $140k with rental increases and new leases. The apartments include 14 studios, 3 one-bedrooms, 1 two-bedroom. Units 8-10 all have leases that end in either January or February 2021. The rest are month to month that have been there for over 5 years and pay by the 3rd of each month like clockwork. Great investment! See transaction desk for potential income breakdown and more information!
  • Roof: Metal
  • Showing Instructions Type: Agent Or Owner Present
  • Special Notes: Aerial Photo
  • SQFT Building: 5786
  • SQFT Gross: 10000
  • Street Number Searchable: 1103
  • Subdivision Name: Dumas J P Add
  • Tax Legal Description: DUMAS J P ADDN, BLOCK 28, LOT 1 THRU 4
  • Tenant Pays: Other
  • Unexempt Taxes: 3632
  • Utilities: City Sewer,City Water
  • Will Subdivide: No
  • Zoning Commercial: Commerc
  • Road Frontage: Asphalt,City,Concrete
  • Road Frontage Distance: 150
  • Year Built Details: Preowned
  • Office Supervisor: Joey Higgins
  • Consent for Visitorsto Record: None
  • Notice Surveillance Devices Present: Video

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