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1509 F Ave 12 Unit Apartment Building $3,092,818 CAD ($257,735 CAD/Unit) 6.34% Cap Rate Plano, TX 75074
Investment Highlights
- 12-unit multifamily property in Downtown Plano, one of the most active and supply-constrained submarkets in North Texas.
- The property has undergone key capital improvements over $250K
- The asset provides stable in-place income supported by long-term tenancy (5+ year average stay), combined with a clear and achievable rent growth.
Executive Summary
EXECUTIVE SUMMARY
This offering presents the acquisition of a well-located 12-unit multifamily property in Downtown Plano, one of the most active and supply-constrained submarkets in North Texas.
The asset provides stable in-place income supported by long-term tenancy (5+ year average stay), combined with a clear and achievable rent growth strategy. Current rents are below market for comparable unit sizes, creating an immediate opportunity to increase revenue through gradual repositioning and operational improvements.
The property has undergone key capital improvements, including roof replacement, upgraded flooring, energy-efficient windows, and parking lot enhancements, significantly reducing near-term capital expenditure risk.
At an attractive basis of approximately $187,460 per unit, the investment is positioned below replacement cost in a high-demand location with strong fundamentals, including walkability, public transit access, and proximity to major employment centers.
This offering presents the acquisition of a well-located 12-unit multifamily property in Downtown Plano, one of the most active and supply-constrained submarkets in North Texas.
The asset provides stable in-place income supported by long-term tenancy (5+ year average stay), combined with a clear and achievable rent growth strategy. Current rents are below market for comparable unit sizes, creating an immediate opportunity to increase revenue through gradual repositioning and operational improvements.
The property has undergone key capital improvements, including roof replacement, upgraded flooring, energy-efficient windows, and parking lot enhancements, significantly reducing near-term capital expenditure risk.
At an attractive basis of approximately $187,460 per unit, the investment is positioned below replacement cost in a high-demand location with strong fundamentals, including walkability, public transit access, and proximity to major employment centers.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$336,558
|
$27.32
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$336,558
|
$27.32
|
| Taxes |
$38,495
|
$3.12
|
| Operating Expenses |
$102,012
|
$8.28
|
| Total Expenses |
$140,508
|
$11.40
|
| Net Operating Income |
$196,051
|
$15.91
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $336,558 |
| Annual Per SF | $27.32 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $336,558 |
| Annual Per SF | $27.32 |
| Taxes (CAD) | |
|---|---|
| Annual | $38,495 |
| Annual Per SF | $3.12 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $102,012 |
| Annual Per SF | $8.28 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $140,508 |
| Annual Per SF | $11.40 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $196,051 |
| Annual Per SF | $15.91 |
Property Facts
| Price | $3,092,818 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $257,735 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.75 AC |
| Cap Rate | 6.34% | Building Size | 12,320 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1970/2020 |
| Zoning | LC | ||
| Price | $3,092,818 CAD |
| Price Per Unit | $257,735 CAD |
| Sale Type | Investment |
| Cap Rate | 6.34% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.75 AC |
| Building Size | 12,320 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2020 |
| Zoning | LC |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 12 | $2,406 CAD | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R-0220-00A-007B-1 | Total Assessment | $1,261,341 CAD |
| Land Assessment | $616,603 CAD | Annual Taxes | $38,495 CAD ($3.12 CAD/SF) |
| Improvements Assessment | $644,738 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
R-0220-00A-007B-1
Land Assessment
$616,603 CAD
Improvements Assessment
$644,738 CAD
Total Assessment
$1,261,341 CAD
Annual Taxes
$38,495 CAD ($3.12 CAD/SF)
Tax Year
2025
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Gables Realty Group
1509 F Ave
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