59 Beds
23,536 SqFt
59 Beds
23,536 SqFt
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 23,536 sqft
Price per Sqft $169
Subdivision Owsley Park
MLS Listing ID 20934069
Bedrooms 59
HOA Y/N No
Year Built 1974
Annual Tax Amount $34,743
Lot Size 0.758 Acres
Acres 0.758
Property Sub-Type Apartment
Property Description
Center Stage Apartments is a 31-unit multifamily asset located within walking distance of the University of North Texas and just half a mile from the vibrant Fry Street district—home to Denton's most popular bars, restaurants, and retail. This prime location offers built-in rental demand from both students and young professionals.
Originally built in 1974, the property underwent moderate renovations in 2016–2017, with approximately $400,000 in capital improvements. Upgrades included replacing all the AC condensers and air handlers, new in-unit and main electrical panels (all brought up to code), stainless steel kitchen appliances, hardwired smoke detectors, and LVT flooring throughout. Select units received new cabinets, and all units were updated with modern bathroom fixtures, lighting, and new shower and tub combos. Exterior enhancements included new siding, windows, rebuilt concrete staircases, and a commercial-grade 199,000 BTU water heater installed around 2021. The roof is estimated to have been replaced around 2014. The property also features an on-site laundry facility with owned machines (3 washers, 3 dryers).
There is additional upside through cosmetic and operational improvements. Resurfacing the parking lot and installing a large-scale mural wrap would enhance curb appeal. Implementing a RUBS utility billing system to recover water, gas, and trash expenses offers immediate value-add potential through increased NOI.
Denton's rental market continues to outperform, driven by explosive population growth - over 16.29% in just the last four years and 40% since 2010. Demand is further underpinned by the 65,000+ students enrolled at the University of North Texas and Texas Woman's University, ensuring consistent occupancy and long-term rental strength.
Location
State TX
County Denton
Community Laundry Facilities, Curbs
Direction Easy to find on GPS
Interior
Interior Features High Speed Internet, Open Floorplan, Pantry
Heating Central, Electric
Cooling Central Air, Ceiling Fan(s), Electric
Flooring Engineered Hardwood, Luxury Vinyl Plank
Fireplace No
Appliance Dishwasher, Gas Range, Microwave, Refrigerator
Exterior
Parking Features Asphalt, On Street
Pool None
Community Features Laundry Facilities, Curbs
Utilities Available Electricity Available, Electricity Connected, Overhead Utilities, Sewer Available, Underground Utilities, Water Available
Water Access Desc Public
Roof Type Flat
Street Surface Asphalt
Total Parking Spaces 45
Building
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
Schools
Elementary Schools Newton Rayzor
Middle Schools Calhoun
High Schools Denton
School District Denton Isd
Others
Senior Community No
Tax ID R25772
Security Features Smoke Detector(s)
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