Bar M Apartments - Equine Boarding

Price reduction from $1,950,000 to $1,350,000. We are pleased to have obtained an exclusive listing on the Bar M Apartments / Equine Boarding Ranch. This beautiful, income-producing property is centrally located in horse country less than 10 miles from Tarleton State University in Stephenville, Texas. Location The property is located approximately 6 miles north of Stephenville on Highway. 108 just east of the intersection of Hwy 108 and FM 3025. Travel east on FM 3025 from the intersection and Bar M is located on your left. The property sits on 15 acres and is less than 80 miles from the DFW metroplex. Tarleton State University is less than 10 minutes away. Improvements The Bar M is a beautiful, well maintained boarding facility with single story apartments where students can live while boarding their horses. The Bar M has 14 large apartments with parking located at the front door. There are 12 apartments with 2 bedrooms/2 baths, 1 apartment with 1 bedroom/1 bath and 1 small house with 2 bedrooms/2 baths along with a small room that could be a third bedroom. All units have central air/heat, electric and water provided by wells on the property. Tenants pay for electricity. Each tenant has access to boarding facilities which are included in their rent package. The 2/2 apartments include 4 covered stalls with their apartment and the 1/1 apartment includes 2 covered stalls. Each unit also receives a private outdoor pen where horses can be turned out during the day. An outdoor arena is also available on the property for use by the tenants. Parking is available for horse trailers owned by tenants. Remarks The Bar M is a very unique income-producing, well located facility. The apartments, parking areas and barns are very well maintained with the grounds being manicured. Tenants are able to have a beautiful apartment, private boarding and parking for trailers while attending TSU. Bar M has a full-time Manager who would like to stay with the new buyer. Income and Expense numbers are available to qualified buyers. If you are looking for an income-producing investment located in a booming area, this ranch deserves a look. Price: $1,350,000