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Offering Summary
Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, Uptown Apartments at 2805 North Street is a 130-unit gated multifamily community on 5.26 acres in Nacogdoches, Texas, one mile from Stephen F. Austin State University. Built in 1968 and renovated in 2024 with over $1.96 million in capital improvements, the six three-story buildings offer studio, one- and two-bedroom units averaging 374 SF, with an in-place average rent of $745. An 8,342 SF commercial building houses the leasing center, amenities, and three retail suites leased through May 2028 at $28,500 annually. The property operated at 79.3% economic occupancy over the trailing 12 months, with 18.4% physical vacancy against a six-property comp set averaging 98% occupied. The broker's Year 1 pro forma assumes vacancy falling to 10%, added retail income, and payroll trimmed to $1,200 per unit, with further upside cited from charging for owned laundry equipment and introducing a cable and internet package. The property is master metered, with owner-paid electric, water, and trash totaling $162,945 in T12 utility expense. Demand is anchored by SFA, which joined the UT System in 2023 and is executing a $1 billion campus master plan, alongside Nacogdoches Memorial Hospital and Nacogdoches Medical Center.
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Location
Uptown Apartments sits at 2805 North Street, also Highway 59 Business, in the heart of Nacogdoches, one mile from Stephen F. Austin State University and its roughly 10,500 students. Nacogdoches Memorial Hospital, public schools, and national retailers are nearby, and US-59 links the market to Houston, 135 miles southwest, supporting student, medical, and workforce renter demand.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
