Texarkana Texas 196 Units 15% CAP

The Commons The Commons

3333 Nichols Drive, TEXARKANA, TX 75503

Status Active
Price $5,800,000
No. of Units 196
Building Size 145,499 sq ft
Price per Unit $29,592
Price per sq ft $39.86
Lot Size 10.01 acre
Property Type Multifamily
Property Subtype Garden/Low-Rise
Property Use Type Investment
No. of Stories 2
Parking Ratio/Spaces 294
Year Built 1973

Property Description

The Commons is a 196 unit value-add asset located in Texarkana, Texas. The offering presents investors with a unique opportunity to acquire an operationally distressed property at an extremely attractive price per unit. The Commons is well located with access to numerous major thoroughfares including Interstate 30, Interstate 369, Highway 82 and Highway 67. Additionally, the Property is located in close proximity to various local employers including Central Mall, CHRISTUS St. Michael Health System, Texarkana College and a wide variety of retail establishments and restaurants. 

REDUCED FROM – The Commons is offered free and clear of existing debt for $6,800,000 ($34,694/unit) allowing unrestricted debt financing in a historically low interest rate environment.

Map of 3333 Nichols Drive, TEXARKANA, TX 75503

You will need to sign a confidentiality agreement to receive financials. There is a 3% buyer’s premium on this trade.

Texarkana Demographics Profile

Population density (sq mi)1,2879791
Median age35.734.237.7
Male/Female ratio0.9:11.0:11.0:1
Married (15yrs & older)50%56%55%
Families w/ Kids under 1844%48%43%
Speak English92%65%79%
Speak Spanish5%30%13%

Texarkana, TX has a population of 37,389 and is the 1,112th largest city in the United States. The population density is 1,287 per sq mi which is 1227% higher than the Texas average and 1320% higher than the national average. The median age in Texarkana is 36 which is approximately 4% higher than the Texas average of 34. In Texarkana, 50% of the population over 15 years of age are married, 92% speak English and 5% speak Spanish. 59% of Texarkana residents were born in Texas, 34% were born out of state, 1% were born outside of the United States and 6% were foreign born.