17130 State Hwy 108 , Stephenville, TX 76401(Erath County)

Situated only 8 miles outside Stephenville is this apartment complex built in 2014 which consists of 3 3,800 sqft fourplex apartment units, each unit has 2 bedrooms and 2 baths and is currently being rented at $875 per month (3 units have already gone up to $900 per month and owner is gradually increasing other units). Entering each unit you will find a spacious living area, that is open to both the kitchen and dining areas. All the apartments have stained concrete floors and ungraded stainless steel appliances which include refrigerator, dishwasher, range/oven and built-in microwave. The kitchen has nice brown cabinets that coordinate well with the crisp clean walls and the tile countertops complete this amazing look. Both the bedrooms measure a generous 11x11 and offers an oversized closet and built-in desk. Each bedroom has their own bathroom with tiled showers and extra shelves for storage. There is a utility closet with pocket door in each unit with full size stackable washer and dryer. Across the front of each complex there is a covered porch, and open parking for vehicles or trailers. Located on the front of the property is a DW mobile home that has 3 bedrooms, 2 baths and offers 1,536 square foot of living space, and is currently rented for $1,500 per month.

The Property

This rental property was built for the horse enthusiast! Located on the property are 3 12 stall horse barns with runs which measure 12x26 and rent for $25 per month. Each barn has 4 12x10 feed/tack rooms, one for each apartment in the complex (currently included in the monthly rent). The barn is equipped with water and electricity. Being on 20 acres the current owner was able to set up the property so that each apartment rents with its own turn-out. Also, conveniently located on this property is a pipe roping arena with pens and return. The property is serviced by a registered well for all the watering needs. There is a gravel entrance to the apartments with lots of room for maneuvering a trailer and plenty of parking. Located centrally on the property is a large covered pavilion for renter use. This property has been immaculately maintained. The barn located at the front of the property close to the DW is included in the monthly rent for the DW. That barn has feed/tack storage as well and has 5 stalls with runs and 2 box stalls. The DW also rents with 3 turn-outs.

Area Demographics

Investors, this 20 acre ranch style apartment complex is located on SH 108 about 8 miles from Stephenville, Texas and is in the Huckabee School district. Stephenville is located just an hour and fifteen minutes from Fort Worth. For those looking to re-locate in Erath County, this property is in Stephenville, Texas, the county seat. Stephenville is home to Tarleton State University, which has an enrollment of more than 7,800 and a full time faculty and staff of 1,100. Six major manufacturing firms employ 1,400 people in Stephenville. The towns major industry is agriculture, with approximately $200 million added to the economy yearly. Of that amount, dairy farming leads the way with approximately $140 million in revenue. According to the 2010 census, the county population was 37,890 and the city population was 17,123.