30-Unit Multifamily in Denton, TX
Denton County, TX · listed Sep 22, 2026 (36 days)
- $/unit
- $98,333
- ▲ 7% vs TX · 54th pct
- Cap rate
- 6.2%
- ▼ 1.2 pts vs TX median
- NOI
- $184K
- $6,117/unit/yr
- Units
- 30
- 2 bldg · 1964
Financials
- Asking price
- $2,950,000
- Price per unit
- $98,333
- Price per sq ft
- $192
- Gross rent / year
- $325,800avg rent × units
- Net operating income
- $183,519
- NOI per unit
- $6,117
- Cap rate
- 6.2%
- Gross yield
- 11%gross rent ÷ price
- Occupancy
- 90%
As stated by the seller. Verify during due diligence.
Building
- Units
- 30
- Unit mix
- 14 studios (virtually identical to the 1 bedroom units), 14 one-bedrooms, and 2 two-bedrooms
- Buildings
- 2
- Year built
- 1964
- Building size
- 15,332 sq ft
- Avg unit size
- 511 sq ft
- Lot size
- 0.69 acres
- Condition
- Value-add
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Sep 22, 2026
- Days on market
- 36 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1010
About this property
Built in 1964, Charlotte Place Apartments is a 30-unit, two-building community that sits 0.7 miles (a 14-minute walk) from the core of University of North Texas Union Circle campus (approx. 40,000 students on the Denton campus, fall 2025) and less than a mile from the popular Fry Street area, Denton's primary restaurant and bar corridor.
Charlotte Place offers a straightforward mix of 14 studios (virtually identical to the 1 bedroom units), 14 one-bedrooms, and 2 two-bedrooms. Studios and one-bedrooms are the easiest units to lease near UNT, due to higher demand from students, graduate students, and young professionals who want to live alone close to campus. Residents pay their own unit electric; the owner covers only water and trash and common area electric (property lighting and laundry room).
The property underwent a full renovation in 2012: new kitchens and bathrooms with new cabinets, appliances, and wood flooring in living & kitchen areas; all above-slab plumbing replaced with PVC and water lines fully replaced; new copper wiring with individual electric meters installed; and all AC units replaced. Nine units have since received some alternate styling updates (different flooring, painted cabinets and hardware) and all units come with a full kitchen appliance package, ceramic tile baths, and a mix of luxury vinyl tile and hardwood flooring. On-site laundry, an outdoor courtyard, and a nearby DCTA bus stop round out the amenity package.
The property is currently 90% leased, up from 83% a month earlier. Denton's multifamily sector is working through an abundance of new apartment supply, with rents down 5.7% year-over-year per Apartment List (October 2026), though rents have risen 3.1% year-to-date, and vacancy rates are described as "still elevated" (Denton Record-Chronicle, July 2026). Charlotte Place is leasing up against that backdrop and doing well.
An easy move that doesn't require additional capital is adding a modest $30/month utility reimbursement, which at 92% occupancy would generate approximately $8,942/year in additional income (after 10% management fee) worth roughly $149,000 in added value at a 6% cap rate.
Walk-to-UNT, 30-Unit Multifamily at $98,333/Unit, Renovated in 2012 with Room to Improve
Highlights
- Walking Distance to UNT Campus - 0.7 miles (14 min walk) to UNT's Union Circle campus core & the popular Fry Street district and not far from Texas Woman's University, with 50,000+ students combined between the two universities, and about a mile to Downtown Denton.
- Property Wide Renovations in 2012 - all units were remodeled with new bathrooms and kitchens including new cabinets, appliances, wood flooring. All plumbing above slab was replaced with PVC, water lines completely replaced, all new copper wiring and individual meters installed and ACs were replaced. Nine of the units since then have been updated with new flooring and painted cabinets with hardware to reflect current design trends.
- Higher Market Demand for Studio & 1BR Units - Currently 90% leased, Charlotte Place has 28 studio & one BR units and 2 two BR units.
- Add Utility Reimbursement to Increase Revenue - Adding a small $30 utility charge to each unit adds approx. $8,942/yr of income at 92% occupancy, worth roughly $149,000 in added value at a 6% cap.
- Affordable Entry Point - $98,333 per unit. Average rent of $905 ($890 studio, $900 1BR).
- Less Than 1 Mile to Fry St. - Denton's core restaurant and bar district.
- Growing County - Denton County population up 18.0% from 2020 to 2025, to 1.07 million (U.S. Census).
Location
Approximate area. The exact address is shared on request.
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