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Multifamily

Brittany Square

210 Duckworth St, Sulphur Springs, TX 75482

Listing Price: Request For Offer

Number of Units
52
Occupancy
88.0%

Investment Overview

Built in 1966, Brittany Square sits on 1.83 acres, and is conveniently located near South Broadway Street and Interstate 30 in Sulphur Springs, Texas. The property is across from Bowie Elementary School and Major Retailers, and within a short drive of Major Employers. The 52-unit community offers affordable living in one of Texas’ fastest growing regions. Brittany Square features a garden-like setting with lush, landscaped grounds, sparkling swimming pool, outdoor cabana, laundry facility, and open greenspace. The units provide numerous options and flexible accommodations including Studios, 1, and 2 bedroom floor plans. Brittany Square presents the opportunity to create significant value with unit upgrades, leasing of down units, reduction of loss to lease, and implementation of RUBS. Additionally, the property includes approximately one-third acre of vacant land that could be developed with additional amenities including fitness center, sports court, pet park or other value generating amenities. Brittany Square provides an excellent opportunity to take advantage of historically low rates.

Investment Highlights

  • CONVENIENT LOCATION & ACCESSIBILITY ALONG INTERSTATE 30 The property is conveniently positioned 80 miles East of Dallas, 100 miles West of Texarkana, 65 miles North of Tyler, and 40 miles South of Par
  • STRONG DEMOGRAPHICS & MARKET FUNDAMENTALS The Median Household Income within a one-mile radius of the property is $53,641. Apartment rents in the Sulphur Springs Market were rising at a 3.7% annually.
  • IMPLEMENTATION OF RATIO UTILITY BILLING SYSTEM (RUBS) Current ownership charges market rent that includes water, sewer, and trash without any bill-back or tenant reimbursement.
  • VALUE ENHANCEMENT OPPORTUNITY Over the past nine years, ownership has spent significant capital on improvements including unit upgrades, new roofing, updated mechanical systems, and wrought iron railing; however, rents are currently 12% below market comps.
  • VACANT PARCEL FOR DEVELOPMENT & AMENITIES Brittany Square is offered with a one-third acre parcel providing limitless possibilities for generating additional value. Options include community clubhouse, fitness center, sports court, pet park, or any other property amenity for tenant enjoyment.

Exclusively Listed By

Multifamily

Brittany Square

Listing Price: Request For Offer

Number of Units
52
Occupancy
88.0%

Investment Highlights

  • CONVENIENT LOCATION & ACCESSIBILITY ALONG INTERSTATE 30 The property is conveniently positioned 80 miles East of Dallas, 100 miles West of Texarkana, 65 miles North of Tyler, and 40 miles South of Par
  • STRONG DEMOGRAPHICS & MARKET FUNDAMENTALS The Median Household Income within a one-mile radius of the property is $53,641. Apartment rents in the Sulphur Springs Market were rising at a 3.7% annually.
  • IMPLEMENTATION OF RATIO UTILITY BILLING SYSTEM (RUBS) Current ownership charges market rent that includes water, sewer, and trash without any bill-back or tenant reimbursement.
  • VALUE ENHANCEMENT OPPORTUNITY Over the past nine years, ownership has spent significant capital on improvements including unit upgrades, new roofing, updated mechanical systems, and wrought iron railing; however, rents are currently 12% below market comps.
  • VACANT PARCEL FOR DEVELOPMENT & AMENITIES Brittany Square is offered with a one-third acre parcel providing limitless possibilities for generating additional value. Options include community clubhouse, fitness center, sports court, pet park, or any other property amenity for tenant enjoyment.

Investment Overview

Built in 1966, Brittany Square sits on 1.83 acres, and is conveniently located near South Broadway Street and Interstate 30 in Sulphur Springs, Texas. The property is across from Bowie Elementary School and Major Retailers, and within a short drive of Major Employers. The 52-unit community offers affordable living in one of Texas’ fastest growing regions. Brittany Square features a garden-like setting with lush, landscaped grounds, sparkling swimming pool, outdoor cabana, laundry facility, and open greenspace. The units provide numerous options and flexible accommodations including Studios, 1, and 2 bedroom floor plans. Brittany Square presents the opportunity to create significant value with unit upgrades, leasing of down units, reduction of loss to lease, and implementation of RUBS. Additionally, the property includes approximately one-third acre of vacant land that could be developed with additional amenities including fitness center, sports court, pet park or other value generating amenities. Brittany Square provides an excellent opportunity to take advantage of historically low rates.

Exclusively Listed By

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