Red Oak on A, Apartment Homes 1226-1232 Avenue A 24 Unit Apartment Building For Sale Denton, TX 76201

Summary:
The Multifamily Group is pleased to present the exclusive offering of Red Oak Apartments, a unique, value-add opportunity in Denton, Texas. Built in 1982, the property features 24 units, each measuring 825 square feet and configured with a two-bedroom floorplan. Recent capital improvements include exterior painting completed in 2021 and roof replacements on two of the six buildings in 2023 and 2024. The remaining four buildings received new roofs in 2020 and 2021. The property is currently 92% occupied, with strong submarket rates averaging 94%. The Red Oak Apartments are being offered free and clear of existing debt.
Value-Add:
Renovate the 6 remaining classic units
Purchasing/leasing additional washer/dryers in the 17 remaining units that already have hookups
Rent out the remaining self-storage units
Add a cable and internet package and billback
Build 10 carports and rent them to tenants
Location:
The Red Oak Apartments enjoy a prime location in the heart of Denton, Texas, within walking distance of the University of North Texas (UNT) and just minutes from Rayzor Ranch, Golden Triangle Mall, and a wide variety of dining and entertainment options. The property is surrounded by leading public and private employers, including UNT, Texas Woman’s University, Denton ISD, the City of Denton, the Denton County Courthouse, and FEMA. The south side of UNT is experiencing significant growth, with the university investing in an $87 million, 110,000-square-foot Science and Technology Building that will foster interdisciplinary research and innovation, slated for completion in 2026. City infrastructure upgrades are also underway, enhancing accessibility and overall quality of life in the area. With Denton’s population steadily rising every year over the last 12 years due to its vibrant cultural scene, expanding employment base, and attractive cost of living, Red Oak Apartments are well-positioned to benefit from continued economic and institutional momentum.