Multifamily
North Star
133 Old Line Dr, Nacogdoches, TX 75965
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present the opportunity to purchase North Star Apartments in Nacogdoches, Texas.
Built in 1975 and renovated in 2025, North Star sits on 3.48 acres, and is conveniently located off North Street/Highway 59 Business in the heart of Nacogdoches. The property is two miles from Stephen F. Austin University, and close to Nacogdoches Memorial Hospital, Nacogdoches Public Schools, and Major National Retailers.
The 79-unit community features spacious courtyards, picnic area with bbq grill, walking trails, ample parking, and on-site laundry facilities. The property offers studio, one and two-bedroom units with open floor plans, vinyl plank flooring, energy efficient appliances, and modern finishes.
With a student population of nearly 12,000 and the recent inclusion of SFA in the University of Texas System, the properties present substantial opportunities to generate stable cash flow while increasing investment returns.
North Star is offered ‘free and clear’ of existing debt allowing new ownership to secure attractive financing with multiple years of interest-only available. Contact MMCC for more details.
North Star
Investment Highlights
- CONTINUE INTERIOR RENOVATIONS With an estimate cost of $5,000 per unit, investors can modernize the remaining classic units to unlock rent premiums up to $100 per month.
- INSTALL PRIVATE FENCED PATIOS At a modest cost of $1,000 per unit, converting back porches into private fenced patios could achieve a $50/month rent increase, yielding a highly attractive return.
- REDUCE LOSS TO LEASE Approximately 30% of tenants have been residents at North Star over two years allowing new ownership to reduce loss to lease and increase rents to market rate.
- IMPLEMENT UTILITY REIMBURSEMENT Reduce operating expenses and maximize cash flow by implementing a utility reimbursement program for water, sewer, trash and pest control.
- ATTRACTIVE FINANCING OPTIONS Investors can capitalize on competitive interest rates and multiple years of interest-only payments, significantly enhancing early cash flow and return metrics.
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- CONTINUE INTERIOR RENOVATIONS With an estimate cost of $5,000 per unit, investors can modernize the remaining classic units to unlock rent premiums up to $100 per month.
- INSTALL PRIVATE FENCED PATIOS At a modest cost of $1,000 per unit, converting back porches into private fenced patios could achieve a $50/month rent increase, yielding a highly attractive return.
- REDUCE LOSS TO LEASE Approximately 30% of tenants have been residents at North Star over two years allowing new ownership to reduce loss to lease and increase rents to market rate.
- IMPLEMENT UTILITY REIMBURSEMENT Reduce operating expenses and maximize cash flow by implementing a utility reimbursement program for water, sewer, trash and pest control.
- ATTRACTIVE FINANCING OPTIONS Investors can capitalize on competitive interest rates and multiple years of interest-only payments, significantly enhancing early cash flow and return metrics.
Investment Overview
Marcus & Millichap is pleased to present the opportunity to purchase North Star Apartments in Nacogdoches, Texas. Built in 1975 and renovated in 2025, North Star sits on 3.48 acres, and is conveniently located off North Street/Highway 59 Business in the heart of Nacogdoches. The property is two miles from Stephen F. Austin University, and close to Nacogdoches Memorial Hospital, Nacogdoches Public Schools, and Major National Retailers. The 79-unit community features spacious courtyards, picnic area with bbq grill, walking trails, ample parking, and on-site laundry facilities. The property offers studio, one and two-bedroom units with open floor plans, vinyl plank flooring, energy efficient appliances, and modern finishes. With a student population of nearly 12,000 and the recent inclusion of SFA in the University of Texas System, the properties present substantial opportunities to generate stable cash flow while increasing investment returns. North Star is offered ‘free and clear’ of existing debt allowing new ownership to secure attractive financing with multiple years of interest-only available. Contact MMCC for more details.
Exclusively Listed By
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