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Claudia Carroll

Broker Associate

  • Office 903-581-5225
  • Cell 903-570-6226
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501 Reed St, Frankston, TX – $740,000

  • $740k Price
  • Acres
  • $740k Price
  • Acres

501 Reed St

20 unit apartment available in Frankston for sale. The tenant base has been stabilized with a 90% plus occupancy over the last year as most units have been remodeled with new HVAC systems in majority. There are 2 buildings with 10 apartments each with over 15,000 sq ft of total living space. Each unit is 2 bedroom/1 bath, with 10 upstairs and 10 downstairs. Apartment demand has been excellent as vacancies are filled quickly and there is currently a waiting list for the next available unit. Financials available upon request in this stabilized Class C apartment complex with an excellent cash flow. The current off site manager is available to continue her excellent management job if the new owner desires to keep her in this role. There is room for additional apartments, self storage units, etc.

Essential Information

  • MLS® #10103617
  • Price$740,000
  • Acres1.75
  • Year Built1980
  • TypeCOMMERCIAL BUILDING/LAND
  • Sub-TypeBuilding
  • StyleNone
  • StatusActive

Community Information

  • Address501 Reed St
  • CityFrankston
  • CountyAnderson
  • StateTX
  • Zip Code75763

Amenities

  • UtilitiesIndividual Electric Meter
  • ParkingOff Street

Interior

  • HeatingCentral Electric
  • CoolingCentral Electric

Exterior

  • Lot Description1.75 acres
  • ConstructionBrick Veneer, Siding

Additional Information

  • ZoningMulti Family Dwelling
  • ForeclosureYes

Listing Details

  • AgentRicky Cameron
  • OfficeCameron Realty, Inc.
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