Appleby Courtyard — Sale in Garrison, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Garrison, TX 75946

Investment Figures

Cap rate
10.21%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the opportunity to purchase Appleby Courtyard in Garrison, Texas. Built in 1983 and renovated in 2025, Appleby Courtyard sits on 5.40 acres, and is conveniently located on US Highway 59 North in the heart of East Texas. The property is less than 10 miles from Stephen F. Austin University, and close to Nacogdoches Memorial Hospital, Nacogdoches Public Schools, and Major National Retailers. The 17-unit community features a spacious courtyard, picnic area with bbq grill, on-site laundry facility, ample parking, and excess development land. The property offers one and two-bedroom units with open floor plans, ceramic tile flooring, energy efficient appliances, and modern finishes. With a student population of nearly 12,000 and the recent inclusion of SFA in the University of Texas System, the properties present substantial opportunities to generate stable cash flow while increasing investment returns. Appleby Courtyard is offered ‘free and clear’ of existing debt allowing new ownership to secure attractive financing with multiple years of interest-only available. Contact MMCC for more details. Investment Highlights: • TURNKEY INVESTMENT - 10% Cap Rate With No Deferred Maintenance • LIMITED RENTAL COMPETITION - No Market Rate Apartments Within 6 Mile Radius • DEVELOP EXCESS ACREAGE - Approximately 4.5 Acres For Future Development • INCREASE RENTS TO FAIR MARKET RENT - In Place Rents $100 Below HUD FMR • ATTRACTIVE FINANCING OPTIONS - Positive Leverage With Interest Only Options

Market Context

This multifamily in Garrison, TX is listed for sale. It is offered at an approximate 10.2% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Garrison, TX — view the full market.

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