417 Withers, Denton, Texas

Description

La Maureta Apartments is a 22-unit multifamily property ideally located just half a block from Texas Woman’s University (TWU) and within walking distance to historic downtown Denton, offering excellent visibility and accessibility. With easy access to Loop 288, University Drive (US-377) and Denton transit stations, the property is well-positioned to attract a diverse tenant base, including students, young professionals and families. Additionally, La Maureta benefits from its direct proximity to the 32-acre Quakertown Park, a popular recreational space featuring walking paths, sports courts and an aquatic center.

Denton’s strong rental market is fueled by its rapid population growth, over 16.29% in the last four years and 40% since 2010, as well as the presence of major educational institutions, TWU and the University of North Texas (UNT), which enroll over 65,000 students combined.

La Maureta offers a value-add opportunity with significant upside potential. Modernizing the units with wood plank-style vinyl flooring, stainless steel appliances and premium counter tops can drive rental increases, potentially boosting income by approximately $35,000 annually and adding $500K in property value at a 7% cap rate. Further revenue streams could be unlocked through adding covered parking spaces for an estimated $20-$30 per month per space and implementing a water conservation program potentially reducing utility expenses by 20-50% annually.

• Value Add Opportunity

• Potentially Add Carports for Additional Income

• Implement Water Conservation Program

• Half Block from Texas Woman's University

• Great Visibility on Heavily Traveled Route to TWU

• Within Walking Distance to Historic Downtown Denton

• Easy Access to Loop 288 & University Dr. (US-377)

• Strong Rental Market

• Significant Population Growth

Directions: Easy to find with GPS.