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2320 W Prairie St, Denton
$3,495,000
59 Beds ⋅ 31 Baths ⋅ 21408420 MLS ⋅ Center Stage Apartments BLDG.
Location. 31 units, 22,350 rentable SF, at 2320 W. Prairie St., Denton, TX: a 6-8 minute walk (0.3 mi) to UNT's Union Circle campus, half a mile to Fry Street. No new supply gets close. The Renegade (104 units, downtown) and NRP Village (under construction through 2027) sit 1.1 and 1.6 miles out, so a location this convenient for students is tough to find. Condition. Built 1974, comprehensively renovated 2016-17: new HVAC, electrical (brought to code), stainless appliances, LVT flooring, new siding and windows, rebuilt staircases, plus a commercial water heater installed around 2021. Roof estimated 2014. On-site coin laundry adds a small, stable income stream. The renovation is now nearly ten years old, so refreshing units is a straightforward value-add play to increase rents. Occupancy. Denton-wide rent softness from new supply (down ~4.5% over the past year) has this property at 77% leased. None of the new supply driving that softness is anywhere close to this location, the nearest sits over a mile out. Supply competes on price across the student market, and proximity fills first when demand returns. Demand is anchored by UNT's ~43,500 students plus TWU down the road. Returns. Trailing NOI of $198,408 puts the cap rate at 5.7% on the $3,495,000 ask. In-place rents ($1,040 for 2br, $825 for 1br) run well below nearby comps: Oaks of Denton ($930-960 for 1br, $1,199 for 2br), The Dominion ($895 for 1br, $1,095 for 2br). Filling vacancies and pushing rents to $1,150 for $875, conservative next to those comps, gets NOI to $222,063 and a 6.4% cap rate. Utility bill back (water, gas, trash, all owner-paid today) adds further upside not reflected above, alongside low-cost items like a resurfaced lot and exterior branding.

2320 W Prairie St, Denton
2532 Charlotte St Unit A-B, Denton
$1,300,000
16 Beds ⋅ 8 Baths ⋅ 21393851 MLS ⋅ The Reserve BLDG.
Welcome to The Reserve located Near UNT with easy access to I-35. 2 buildings with 4 units each. All are 2 bed 1 bath. Units have tub and shower combo. Each unit comes with gas range, dishwasher microwave or vent hood and refrigerator. Laminate or LVP flooring in all units. 100% occupied. Laundry room on site with 2 washers and 2 dryers coin operated. Parking lot located at front of buildings with community mailbox. Recent updates include 2 75-gallon gas water heaters. Sale will include both units. A Parcel Id R296836 B Parcel Id R27346.

2532 Charlotte St Unit A-B, Denton
2404 Louise St Unit 2404 & 2420, Denton
$4,300,000
47 Beds ⋅ 24 Baths ⋅ 21194900 MLS ⋅ N/A BLDG.
24 Unit Apartment Buildings (12 & 12) 1 Block from UNIVERSITY OF NORTH TEXAS CAMPUS! Over the last few years, owner has spent large sums of money to not only Remodel Units but to significantly improve the infrastructure. All old HVAC systems replaced, Many of the Gas Water Heaters replaced, Most flooring and Paint in the last 2 years. Some units have undergone further remodeling with new kitchens with more cabinet space. All but 1 unit are 2 bedroom 1 bath. Most come with all stainless appliances including dishwashers. The ones with new kitchens excluded dishwashers as requested by many tenants who prefer cabinet space. Market rents have been low to accommodate construction both on the street and in the building. Now is your opportunity to put your finishing touches to make it shine and raise rents back up to $1400 or $1500 per unit as we did prior to last year's construction. Take advantage of the potential upswing. Great for your first apartment complex or experts increasing their portfolio.

2404 Louise St Unit 2404 & 2420, Denton

Listings provided by North Texas Real Estate Information Systems (NTREIS). Listing data has been deemed reliable but is not guaranteed to be accurate by the MLS.

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