Point North Apartments | 900 W Fordall St
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Point North Apartments 900 W Fordall St
109 Unit Block of Flats For Sale Henderson, TX 75652
Investment Highlights
- 109-unit complex of two-story apartment buildings and bungalow-style flats
- Point North neighbors one of the city’s largest lake in the city, Lake Forest Park, providing tenants access to a surplus of outdoor activities
- Courtyard
- The Henderson, Texas local economy is sustained by large industrial trades including oil, gas, gravel, and timber
- Situated in its own quiet, tree-filled subdivision
- Diverse population
Executive Summary
THE OFFERING
Point North is a 109-unit complex of traditional two-story apartment buildings and bungalow-style flats situated in its own quiet, tree-filled subdivision. There is a great mix of 35 one-bedroom, 50 two-bedroom, and 24 three-bedroom units, averaging 816 square feet across all unit types. Any buyer has the opportunity to purchase the existing entity and maintain a 20% annual cap on the assessed value of the property to mitigate RE tax increases and maintain stronger cash flow.
THE DRIVERS
The Henderson, Texas local economy is sustained by large industrial trades including oil, gas, gravel, and timber. The West Fraser sawmill is undergoing a $255M upgrade to their plant, and Henderson is also served by a 13-mile railroad spur making it a hub for exporting raw materials across the country. The city is also investing in additional industrial options to gear its new 300-acre East Texas Regional Business Park anticipated to be up and running in the next 12 months.
THE LOCATION
Point North neighbors one of the city’s largest parks and lake in the city, Lake Forest Park, providing tenants access to a surplus of outdoor activities for the entire family to enjoy. The city of Henderson has several major highways passing through the business district including U.S. Route 259 and 79, along with Texas State Highways 42, 43, and 64. Henderson also boasts a charming downtown historic district with many buildings dating to before the American Civil War which is often bustling with residents visiting the restaurants, clothing boutiques, and antique stores.
THE DEBT
Point North is being offered free and clear of existing debt. Please contact Greysteel’s Debt and Structured Finance team to discuss the most efficient financing execution.
Point North is a 109-unit complex of traditional two-story apartment buildings and bungalow-style flats situated in its own quiet, tree-filled subdivision. There is a great mix of 35 one-bedroom, 50 two-bedroom, and 24 three-bedroom units, averaging 816 square feet across all unit types. Any buyer has the opportunity to purchase the existing entity and maintain a 20% annual cap on the assessed value of the property to mitigate RE tax increases and maintain stronger cash flow.
THE DRIVERS
The Henderson, Texas local economy is sustained by large industrial trades including oil, gas, gravel, and timber. The West Fraser sawmill is undergoing a $255M upgrade to their plant, and Henderson is also served by a 13-mile railroad spur making it a hub for exporting raw materials across the country. The city is also investing in additional industrial options to gear its new 300-acre East Texas Regional Business Park anticipated to be up and running in the next 12 months.
THE LOCATION
Point North neighbors one of the city’s largest parks and lake in the city, Lake Forest Park, providing tenants access to a surplus of outdoor activities for the entire family to enjoy. The city of Henderson has several major highways passing through the business district including U.S. Route 259 and 79, along with Texas State Highways 42, 43, and 64. Henderson also boasts a charming downtown historic district with many buildings dating to before the American Civil War which is often bustling with residents visiting the restaurants, clothing boutiques, and antique stores.
THE DEBT
Point North is being offered free and clear of existing debt. Please contact Greysteel’s Debt and Structured Finance team to discuss the most efficient financing execution.
Property Facts
| Sale Type | Investment | Lot Size | 12.00 AC |
| No. Units | 109 | Building Size | 98,879 SF |
| Property Type | Residential | Average Occupancy | 72% |
| Property Subtype | Apartment | Number of Floors | 2 |
| Apartment Style | Garden | Year Built | 1969 |
| Building Class | B | Parking Ratio | 1.31/1,000 SF |
| Sale Type | Investment |
| No. Units | 109 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 12.00 AC |
| Building Size | 98,879 SF |
| Average Occupancy | 72% |
| Number of Floors | 2 |
| Year Built | 1969 |
| Parking Ratio | 1.31/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Wooden Floors
- Refrigerator
- Oven
- Range
- Walk-In Closets
- Carpet
- Lawn
- Patio
- Window Coverings
Site Amenities
- Courtyard
- Laundry Facilities
- Pool
- Laundry Service
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 35 | - | 650 |
| 2+2 | 50 | - | 822 |
| 3+1 | 14 | - | 1,015 - 1,092 |
| 3+2 | 10 | - | 1,092 |
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PROPERTY TAXES
| Parcel Number | 32002 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £1,877,880 |
PROPERTY TAXES
Parcel Number
32002
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£1,877,880
-
Chris Castillo -
Douglass Banerjee -
Yassi Ghashghai -
Greysteel
(469) 249-9333
x408
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Point North Apartments | 900 W Fordall St
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