REO | Legacy Apartments

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Address: 422 S Crockett St, Sherman, TX 75090, USA

Texas + Apartment Buildings

Created date: November 5, 2024

Date last updated: November 5, 2024

RI Marketplace Online Auction December 9-11

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Tour dates available, Sat Nov 23rd from 9am-3pm -and- Sat Dec 7th from 9am-3pm.

Investment Highlights

Priced Well Below Replacement Costs
Control Your Destiny Location (no neighboring multifamily/commercial properties)
Occupancy Near Capacity
Rental Rates Well Below Market Average
Newly resurfaced asphalt drive up parking
Management scheduled to convert water & electricity from an “all bills paid” to a “RUB” platform

Property Description

SVN | Trinity Advisors, in conjunction with RI Marketplace, are introducing an investment opportunity in the Sherman-Denison area! This 31 unit rental residential investment property, presents a rare opportunity to acquire a multifamily apartment well below replacement cost. Built in 1967 and renovated in 1990, the rental market responded to the affordable rents. According to the property manager, the complex is operating at or near capacity. The property is an ideal candidate for the Residential Utility Billing ("RUB") system and Management anticipates implementing the system in October 2024. With an irreplaceable Central Business District (CBD) location along the I-75 Corridor, and strong occupancy, the Legacy Apartments offers a lucrative opportunity for those pursuing multifamily real estate investments.

Lamar P. Fisher

Fisher Auction Company Inc. License: 10344

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Key Property Information

Listing Status:	Available
Listing Type:	Auction
Property Types:	Apartment Buildings
Price:	$600,000
No. of Units:	31
Average Occupancy:	96.77
Year Built:	1967
Year Renovated:	2018
Building Size:	17,453 Sq ft
Lot Size:	0.90 Acres
No. of Stories:	2
Opportunity Zone:	No
Price per unit:	$19,355
Parking Spaces:	60
Property Website	Click Here