Michelle Lim

REMAX Premier
License number: 0630492
phone: (972) 696-9546
 mobile: (214) 205-1338
 fax: (972) 403-2015
 www.mlzip.com
2100 Dallas Parkway Suite102
 Plano, TX 75093
$650,000
1203 Panhandle Street, Denton, Texas 76201, USA
MLS#
20792948
Property type
Residential For Sale, Apartment
Land size
0.19 sqft (0.02 m2)
Building Size
4,726 sqft (439 m2)
Status
Bedrooms
6
Baths
6
Sale price per sqm
0 $
This textbook value-add play is a beautiful historical looking home built in the 1950’s (some renovations in 2009) with wrap around porch and serious curb appeal. It has a large open floor plan with washer & dryer hookups and one small 1 bed 1 bath efficiency unit behind main house area. An additional four units were built onto the back of the house years later that are all 1 bed 1 bath units for a total of six rentable units. Depending on preference, the new owner is able to attract both student and non-student tenants at this fantastic location that is within walking distance (1.2 miles) from University of North Texas campus with popular Fry St. night life and retail area as well as Downtown Denton Square. A three car garage that is currently being used for storage has the potential to be renovated for additional units (Buyer to confirm with City) or possibly finishing out for protected tenant parking with additional rental fees. Currently, 100% occupied with month to month leases at well below market rates allowing a new owner to immediately being updating rents and or renovating units. Electrical systems were updated 15 yrs ago. All has been rewired. No 2 prong and no aluminum. One unit has HVAC. One has a mini-split and the other units have window units (electric with heat). Exterior water and supply lines as well as yard sewer drains have been replaced with PVC. Interior lines are still cast iron. All unit SF amounts were provided by maintenance person and to be confirmed by Buyer. All information given by Seller and to be confirmed by Buyer during inspection. Current Offering Memorandum available to download in documents. Investment Highlights - Seller Financing for 15yrs, 30yr AM @ 6.5% with $200k Down, Value-Add Play With Below Market Rents. Fantastic Curb Appeal on Hard Corner with Good Visibility. Great Location 1.2 Miles from both University of North Texas and Fry St. Area & Downtown Denton Square.
Property Details
1952 Year Built:
Building or Complex name: Panhandle St Apartments Location:
Brick Construction:
Resale Condition:
Refrigerator, Cooktop - Electric, Oven-Electric Appliances:
1 Number of Fireplaces:
Brick Fireplace Description:
Porch-front, Wraparound Porch , Porch Covered, Covered Patio, Garage Property Features:
vinyl Floors:
city water, City sewer, Individual Water Meter, Master Water Meter Utilities:
Electric Heating System:
Central, Electric, Ceiling Fan, Window Unit(s) Cooling System:
Corner Lot, Landscaped, Sidewalks, Curbs Lot Description:
composition, shingle Roofing:
Parking / Garage
6 Number of parking spaces:
2 Garage Spaces:
Attached Garage Garage Description:
School Information
Denton ISD School District:
Newton Rayzor Elementary School:
Denton High School:
Calhoun Middle School:

Listing by: Ray Gun Commercial
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