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95 units Multi-unit – Easy Handyman Special – TX

695k for 95 units – Add 3% to final purchase price for fees. Brick building with 88 apts, 5 commercial spaces, a 5000+sqft ball room and a restaurant to boot, has got to be the best deal in town. Over 100k in total square footage the building is priced at just over $7.00 per sqft. well below replacement cost. The property only needs cosmetic repairs to bring up the apartments and will bring in the owner over 30k monthly income (and thats not counting the commercial)

Located in the heart of the downtown area. This building has received the benefit of a multi-million dollar downtown rejuvenation effort, including street renovation, a new transit terminal, and many upgrades.* (See in the area description for info on the main street program)

Just 4-5 miles from the local mall and numerous restaurants, and also directly on the city bus route Angelina Estates is convenient to every where in the county. As one of the first certified retirement communities in Texas there is a great demand for elderly housing. And though there are a number of independent living facilities that cater to the affluent. There are none to provide housing to the moderate and middle income elderly, thus providing an opportunity to supply a great demand in this area as an independent elderly facility.

Area Description

Lufkin is the #1 Micropolitan community in Texas and the HUB for a population base approaching 400,000 in it’s nine county region. With manufacturing, retail, and healthcare driving our economy, this city continues to lead the region in jobs, retail sales and healthcare services.

Add to that a GREAT quality of life with access to fishing, hunting and a variety of outdoor sports, being located strategically between two national forests, and a progressive leadership with a can-do spirit andâ€¦well, come see for your self! It is a fun place to visit, a great place to live and a progressive place to do business.

Lufkin is truly an amazing community with an abundance of characteristics that make Lufkin the largest small city in Texas. Named the #1 Micropolitan city in Texas by Polycom Corp., Lufkin is the largest community between Houston to the South and Tyler to the North and serves a broad service area for jobs, education, entertainment, governmental services, medical services, and retail shopping. This creates a daytime population estimated at over 100,000 and a service sector to support this size of community.

*The City of Lufkin is a main street city. It became a Main Street City in 1983. Each year the Main Street office has to reapply to maintain a Main Street status. A ten point criteria has to be submitted annually to the Texas Historical Commission to obtain the prestigious title of a Main Street City.

The Main Street Program is a major effort of the National Trust for Historic Preservation and now in 40 states providing assistance to the many cities and towns whose older central business districts retain some vestige of their visual character yet whose economic position is slipping. The premise of the Main Street Program is that economic revitalization can take place within the context of historic preservation.

57% LTV Water Front Sub division Camden County GA CloseOut

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