- For Sale Contact for pricing
- Property Type Other
- Units 100
- Year Built 1973
- Date Updated Jan 21, 2025
Village Creek Apartments is a renovated 100-unit multifamily community located in Commerce, TX in Hunt County, part of the Dallas metro area. Built in 1973 and situated on 7.05 acres, the property is improved with 12, one- and two-story clusters of buildings with pier and beam foundations, wood framing, and pitched metal roofs. All units are individually metered for electricity and feature updated individual HVAC units and hot water heaters. Village Creek offers a variety of spacious floor plans including one-bedroom units and two- and three-bedroom townhouse-style residences. Amenities include fully equipped kitchens, large individually locking bedrooms, and faux hardwood flooring. Common area amenities include a swimming pool, clubhouse, and a management office. Texas A&M University-Commerce, now named East Texas A&M, is within walking distance.
In 2014 Village Creek received $3.75 million in capital improvements. Interior improvements consisted of flooring, electrical fixtures, plumbing fixtures, water heaters, appliance package, paint, cabinets, hardware, and window coverings. On the exterior, the property received new roofs, HVACs, electric metering, paint, and exterior repairs. In addition, community amenities added to the property include a new pool, basketball court, dog park, parking lot, signage, and landscaping.
Reach out to the broker for more info on lease terms and amenities
Highlights
- Prime Location with Growing Demand: Situated directly across from East Texas A&M, the fastest-growing public university in Texas (12.5% enrollment increase in 2023). Strong application growth (+15% from pre-pandemic levels) ensures sustained demand for student housing.
- Strong Occupancy and Rent Growth: Commerce market rents have grown 5.77% year-over-year. Student housing occupancy is robust nationally at 94.5% for the '24-'25 school year, with a 5.8% rent growth over the past 12 months.
- Stable Asset with Immediate Cash Flow: Village Creek offers a 8% in-place cap rate and averages 93% occupancy over the past six years. A 5-year hold projects a 14% average cash-on-cash return.
- Value-Add Potential: Addressing operational inefficiency for August rents could immediately boost income, adding $410k in value. Reserved parking opportunities could add $171k in value.
- Rental Upside: Significant potential to increase revenue by addressing one-bedroom unit demand ($65 premium) and optimizing by-the-bed pricing for two- and three-bedroom units.
- Low Competitive Supply: Besides rents being too low in Commerce to justify new construction, National construction activity for student housing has decreased by 5%, underscoring a favorable supply-demand balance in the market.
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Contacts
Location
Getting Around
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Walk Score ®
58/100
Somewhat Walkable
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Bike Score ®
53/100
Bikeable
- City Commerce, TX
- Zip Code 75428
- Market Dallas Fort Worth
Points of Interest
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Valero
0.11 miles
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Shell
0.20 miles
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Brookshire's Gas
0.68 miles
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Exxon
0.93 miles
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Parking lot 2
0.02 miles
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Parking lot 1
0.03 miles
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Parking lot 3
0.07 miles
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Parking lot 38
0.11 miles
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Parking lot 4
0.13 miles
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Parking Lot 5
0.22 miles
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Parking Lot 20
0.27 miles
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Parking Lot 6
0.28 miles
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Parking Lot 12
0.28 miles
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Parking Lot 35
0.29 miles
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Commerce Inn
0.32 miles
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Magnuson Hotel
0.72 miles
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Burrito Express
0.12 miles
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Maria’s Kitchen
0.12 miles
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Tokyo Express
0.13 miles
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Pizza Hut
0.13 miles
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Subway
0.13 miles
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McDonald's
0.15 miles
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Chicken Express
0.19 miles
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Burger King
0.20 miles
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Luigi's Italian Cafe
0.20 miles
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Sonic
0.21 miles
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Texas A&M University-Commerce
0.43 miles
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Commerce High School
0.98 miles
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Norris School
1.32 miles
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Commerce Middle School
1.36 miles
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A C Williams Elementary School
1.54 miles
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Commerce Elementary School
1.64 miles
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Campbell Independent School District
6.94 miles
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Cumby Independent School District
8.48 miles
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Fannindel Elementary School
9.92 miles
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Children's Learning Center
0.61 miles
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Joyful Hearts Learning Center
1.18 miles
Frequently Asked Questions
The sale price for Village Creek is available upon request. Contact the listing broker for more information.
Village Creek totals 86,000 square feet.
Village Creek was built in 1973.
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