Dallas, Tx: Paragon Realtors debuts in Sherman Texas this week with the acquisition of the Virginia Cook Sherman office, the number one brokerage in the area, by Dallas-based Dallas City Center Realtors. The word “paragon” is a model or pattern … Read More...
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Paragon: [par-uh-gon] - noun - A Model or Pattern of Excellence
Listing ID20179643
Price$8,000,000
StatusPending
Acres
3.071
CountyGrayson
SubdivisionMCANAIR
Year Built1968
Property TypeResidential Income
Property Sub TypeApartment
Incredible investment opportunity!!! 68-unit senior living apartment complex in the heart of Sherman. All units are occupied and there is a waiting list. This complex has a wonderful, experienced property manager that would like to stay after the completion of the sale. All units have an all-bills-paid leasing agreement. Located in a great neighborhood with convenient access to highway 75. Please contact listing agent for more information.
County
Grayson
Property Sub Type
Apartment
Property Type
Residential Income
Subdivision
MCANAIR
Year Built
1968
Accessory Unit
yes
Accessory Unit Type
Other
Appliances
Dishwasher, Electric Range
Basement
no
Cooling
Ceiling Fan(s), Central Air, Electric
Flooring
Carpet, Tile, Vinyl
Heating
Central, Electric
Interior Features
Built-in Features, Cable TV Available, High Speed Internet Available
Levels
Two
Attached Garage
no
Carport Spaces
2
Construction Materials
Brick
Covered Spaces
2
Exterior Features
Covered Patio/Porch, Rain Gutters, Uncovered Courtyard
Fencing
Wood
Foundation Details
Slab
Garage
no
Horse Permitted
no
Lot Features
Acreage, Interior Lot
Lot Size
3 to < 5 Acres
Lot Size Area
3.071
Lot Size Square Feet
133772.76
Lot Size Units
Acres
Number Of Buildings
10
Number Of Parking Spaces
112
Number Of Units Total
68
Parking Features
Assigned, Covered, Parking Lot, Paved, Varies by Unit
Patio And Porch Features
Covered, Side Porch
Pool
yes
Pool Features
In Ground
Roof
Composition
Utilities
All Weather Road, City Sewer, City Water
Window Features
Window Coverings
Association Type
None
Building Area Source
Public Records
Building Area Total
65986
Community Features
Community Pool, Perimeter Fencing
Country
United States
Directions
From highway 75 south, exit for Travis Street and continue on Sam Rayburn access road. Entrance is between Birge and Brockett Streets. There is also an entrance from Woods Street; turn on College Street and head straight.
Elementary School
Wakefield
Elementary School Name
Wakefield
High School Name
Sherman
Middle School Name
Piner
School District
Sherman ISD
Senior Community
yes
Waterfront
no
Accessibility Features
yes
Accessibility Features Type
Accessible Approach with Ramp, Accessible Bedroom, Accessible Doors, Accessible Grip
Complex Name
Concord Village Apartment
Consent Required to Record
None
Dual Variable Compensation
no
Municipal Utility District
no
Property Match
APN
Second Mortgage
no
Smart Home Features
no
Special Notes
Aerial Photo, Age-Restricted
Status
Pending
Tenancy
Lease While on Market, No Smoking, Over 9 Months
US Property MUI
406130022
Will Subdivide
No
Year Built Details
Preowned
Capitalization Rate
6.97
Current Price/Lot Size
2605014.65321
Gross Annual Expenses
209057
Gross Annual Income
805000
Insurance Expense
38727
Listing Terms
1031 Exchange, Cash, Contact Agent, Conventional
Net Operation Income
557216
Operating Expense Includes
Insurance, Maintenance, Maintenance Grounds, Maintenance Structure, Manager, Parking, Pool/Spa, Staff, Supplies, Trash, Utilities, Water/Sewer
Possession
Closing/Funding, Lease Outstanding, Subject to Lease
Unexempt Taxes
63320
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