Oakview Apartments 1507 E 15th St Immeuble residentiel 19 lots À vendre Plano, TX 75074

Summary:
The Multifamily Group is pleased to present the exclusive offering of the Oakview Apartments, a unique, value-add opportunity in Plano, Texas. Constructed in 1969 (13 units) and 1970 (6 units), the property consists of 19 units spread between two buildings. Floorplans include a studio, one-bedroom and two-bedroom options with an average unit size of 715 sq. ft. Oak View is currently 95% occupied, matching the strong occupancy rates in the submarket. Effective rent growth is projected to rise another 3.9% year-over-year (Yardi). The Oakview Apartments are being offered free and clear of existing debt.
Capital Expenditures:
- May 2025: Parking Lot was Resealed/Striped
- 2025: 6u Bldg had its exterior painted
- 2025: 13u Bldg doors were painted
- 2017: Roof replacement with EPDM vinyl for both buildings
- All toilets have been replaced with 1.6 liters per flush
- 13u Bldg HVACs are all 2 years old with heat pumps
- 6u Bldg all have tile flooring
- All 4 boilers are less than 5 years old
Value-Add:
- Interior renovations offer significant upside, as all units have potential for upgrades.
- There is opportunity to launch a water conservation program to lower the water bill (See quote on pages 11-12).
- Build carports and rent them to tenants.
Location:
Plano continues to thrive as a premier destination for businesses and residents alike, with its population already exceeding 300,000 and projected to reach nearly 400,000 by 2035, according to the U.S. Census Bureau. Several major companies, such as Simplilearn, KFC, Simpson Strong-Tie, Sally Beauty Holdings, Westwood Professional Services, and Fisher Investments, have all recently relocated their headquarters or significant operations to Plano. The surrounding area boasts a $91,496+ median income within a three-mile radius and an A-rated school district (Plano ISD), making it highly desirable for families and professionals. With walkable access to Historic Downtown Plano and 19 years of consistent ownership, this property is positioned to benefit from both strong market fundamentals and value-add upside.