Address
1434 16th, Mount Pleasant, TX
Price
$ 4,250,000
Property Attributes
  • MLS#20529445
  • TypeMulti-Family
  • CountyTITUS
  • CityMount Pleasant
  • Zip75455
  • StyleApartment
  • Price$ 4,250,000
  • Bedrooms48
  • Full Bathrooms48
  • Half Bathrooms0
  • Lot Size5.378 Acres
Data Source:
North Texas Real Estate Info Systems (NTREIS)
Property Description

I'm pleased to present the exclusive offering of Heritage Apartments, a unique, turn-key opportunity in Mount Pleasant, Texas. The property consists of 48 total units averaging 800 square feet. With 16 units constructed in 2023, 16 units constructed in 2021, and 16 units constructed in 2022 (all exterior have been remodeled and 7 interior have been remodeled). Heritage apartments all have the same two bedroom, 1 bathroom floorplan. All units have individual HVACs and electric hot water heaters. The property is currently 100% occupied. Plus. an oversized laundromat with owned washers and dryers for additional income.

Price History
2/6/2024 Listed $4,250,000

General Features

Heating Central,Electric
Complex Name Heritage Apartments
Cooling Central Air,Electric
Utilities City Sewer,City Water,Electricity Connected,Master Water Meter
Possession Closing/Funding
Roof Composition,Metal
Appliances Electric Range
School District Mount Pleasant ISD
Capitalization Rate 7.76
Year Built 2023
Levels Multi/Split
Will Subdivide No
Gross Annual Expenses 162000.00
Property SubType Apartment
Subdivision Name None
Insurance Expense 33408
County Titus
Operating Expense Includes Capital Improvements,Insurance,Maintenance Structure,Pest Control,Trash,Utilities,Water/Sewer
Property Type Residential Income
Construction Materials Siding
Year Built Details Preowned
HOA Type None
# of Buildings 5
Status Active
Directions From I-30 E,take exit 160 onto US-271,turn right on W Ferguson Rd,left on W 16th,property on the left before Heritage Park
City Mount Pleasant
Buyer Agent Compensation 2.5
High School Mount Pleasant
Street Name 16th
Virtual Tour URL Unbranded https://www.propertypanorama.com/instaview/ntreis/20529445
Standard Status Active
Junior High School Mount Pleasant
Buyer Agent Compensation Type %

Interior Features

Interior Features Cable TV Available
Flooring Laminate
Total Units 48
Unit Count 1
Full Baths 1
Lock Box Type See Remarks
Total Bedrooms 2

Exterior Features

Parking Features Common
Foundation Slab
Lot Size Area 5.3780
Number Of Parking Spaces 100
Lot Size Units Acres
Building Area Total 38408.00
Lot Size Square Feet 234265.6800
Lot Size Acres 5.3780

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 75455

Price
AVG $4.25M
$4.25M
Visits
AVG 290
298
Data Provided by Inside Real Estate®
Year Built
AVG 2023
2023

Looking for a more comfortable experience?

Download our mobile app for a personalized browsing experience.