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Centro Modern Homes 381 N Centro Cir

80 Unit Apartment Building $38,601,760 CAD ($482,522 CAD/Unit) Shenandoah, TX 77385

Investment Highlights

  • Fully Stabilized Community
  • 9 Ft. Ceilings & Privately Fenced Backyards & 2-Car Garages w/ EV Chargers
  • Low Tax Rate - No MUD
  • Gated Community & Resort Style Pool & Dog Park
  • Double Masters in 4-Bedroom Fairfield Plan

Executive Summary

Rare Opportunity in a Tier-1 Suburban Location that offers Institutional-quality, community with amenities that meet the need of today’s renter and investor. Operational Strength & Demographics in Amenity rich community is a standout amongst peers; supported by strong leasing performance and average household income of $130K+.
In-place and Long-term Growth Fundamentals, the population has grown 20% over the past 5 years and is projected to grow another 9% over the next 5 years, with average HHI’s of $130K within a one-mile radius. Projected 5-year submarket rent growth of nearly 6%.
You can purchase select units from the 80 units remaining (see the availability map under links for details). The current property management is willing to stay on if desired.

Data Room Click Here to Access

Property Facts

Price $38,601,760 CAD
Price Per Unit $482,522 CAD
Sale Type Investment
No. Units 80
Property Type Multifamily
Property Subtype Apartment
Apartment Style Townhome
Building Class B
Lot Size 9.58 AC
Building Size 143,704 SF
No. Stories 3
Year Built 2023

Unit Amenities

  • Air Conditioning
  • Dishwasher
  • Disposal
  • Microwave
  • Washer/Dryer Hookup
  • Ceiling Fans
  • Double Vanities
  • Kitchen
  • Ice Maker
  • Refrigerator
  • Oven
  • Sprinkler System
  • Stainless Steel Appliances
  • Walk-In Closets
  • Yard
  • Freezer
  • Vinyl Flooring

Site Amenities

  • Controlled Access
  • Picnic Area
  • Pool
  • Gated
  • Pet Play Area

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
3+2.5 44 $3,229 CAD 1,619
4+4 36 $3,652 CAD 2,013

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
3369-00-10700
Land Assessment
$74,218 CAD
Improvements Assessment
$442,466 CAD
Total Assessment
$516,684 CAD

zoning

Zoning Code PDD #11
PDD #11
  • Listing ID: 32721896

  • Date on Market: 2024-08-07

  • Last Updated:

  • Address: 381 N Centro Cir, Shenandoah, TX 77385

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