Aspire

Denton, TX

Info For Buyers

Overview

Summary

Address 201 Coronado Dr. Denton, TX 76209
Price Market
Year Built 1970
# Units 132
Rentable SF 86,128 SF
Avg Effective Rents $1109

Aspire Apartments has an address of 201 Coronado Drive and is conveniently situated in the northeastern portion of Denton, a short distance from Texas Women’s University. Aspire is a renovated 132-unit property with a total area of 86,128 square feet and an average unit size of 652 square feet. The two-story, stucco-sided buildings feature large private patios / balconies, and a variety of one- and two-bedroom floor plans are offered. The units are freshly updated and feature fully equipped kitchens, luxury vinyl plank flooring, and washer and dryer connections.

Aspire can be purchased individually or as a portfolio with Lana.

Investment Highlights

Three Owners over Four Decades: Maintained by just three owners over 40 years, this property combines stability, meticulous care, and easy management, making it a highly attractive investment.

Proximate to Substantial Economic Drivers: Denton is perfectly located where I-35W and I-35E (the "Growth Corridor") converge, at the northern point of the Dallas-Ft. Worth triangle. The property is centrally located within Denton, so it's minutes away from Denton's top employers and attractions.

Virtually No Deferred Maintenance: Current ownership invested over $1.4M into improving the exteriors, amenities, and providing upside on interior enhancments. Ultimately, allowing new ownership to drive top-line revenue.

Proven Premium Level Upgrades: Ownership is achieving a rental lift on premium level units consisting of black appliances, granite countertops, washer and dryer connections, bathroom vanities and tile surround, and more.

Immediate Revenue Generators Available: There is demand for amenities such as package lockers, valet trash, backyard spaces, fitness center, grill stations, and more.

Attractive Financing Available: Nonrecourse agency financing is available with flexible prepayment penalty structures.