Anson, TX 79501,1704 Commercial Avenue
$499,000
Est.Price: ?

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0.4 Acres Lot

1704 Commercial Avenue Anson, TX 79501

Est. payment /mo
SOLD DATE : 12/08/2022

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Key Details

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Subdivision Buie Hanna Morrow Anson

MLS Listing ID 20148354

Year Built 1999

Annual Tax Amount $4,341

Lot Size 0.398 Acres

Property Description

The Commercial Apartments is a 12 unit apartment that sits at the crossroads of HWY 277 and 180. This property has seen recent renovations including a new TPO roof, exterior work, and unit upgrades. A few units remain to be upgraded but all units that have been upgraded have new flooring, paint, updated kitchen cabinets, bathrooms, significant HVAC work, granite countertops in several units, new lighting fixtures, appliance packages and new plumbing top outs and plumbing work. The common area was painted and new flooring was added. 8 units are ready to be leased and are currently being pre-leased.

The Commercial Apartments leaves significant value add opportunity which would include renovation of the on-site laundry facilities and finishing the balance of the unit turns. Implementing a Ratio Utility Billback System will increase net operating income and add greater cash flow upon stabilization.

Location

State TX

County Jones

Interior

Heating Central, Electric

Cooling Ceiling Fan(s), Central Air, Electric, Wall Unit(s), Wall/Window Unit(s), Window Unit(s)

Flooring Luxury Vinyl Plank

Exterior

Utilities Available City Sewer, City Water

Roof Type Other

Building

Story Two

Foundation Slab

Structure Type Brick,Frame

Schools

School District Anson Isd

Others

Acceptable Financing 1031 Exchange, Cash, Conventional, Owner Will Carry

Listing Terms 1031 Exchange, Cash, Conventional, Owner Will Carry

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North Texas Real Estate Info Systems (NTREIS) -MetroTex and Collin County (CCAR)
Listed by Meliea Ware • Fathom Realty LLC
Bought with Jonathan Jones • KW SYNERGY

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Lily Moore

Broker

+1(817) 715-3771

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