5050 Fm 423, Frisco, TX 75036 – Apartment (4 - 20 units)

ApartmentsYear Built 2014Total Assessed Value $76,827,837County Denton

Property Details

The Apartments property 5050 Fm 423, Frisco, TX 75036 is located in Denton County. The specific property type is Apartment (4 - 20 units). The total assessed value of this property is $76,827,837.

The gross building area is 371,385 square feet and the land area is 850,291 square feet for this Apartment (4 - 20 units) built in 2014.

Legal description: Avenues Of Phillip Creek Ranch Blk A Lot 1

$76,827,837

Market Value

8.00%

Cap Rate

N/A

NOI

N/A

Occupancy

$1,906

Avg Rent

Property Image of 5050 Fm 423, Frisco, TX 75036, Apartments

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Property Information

Property TypeApartments

Sub Property TypeApartment (4 - 20 units)

Building Area371,385

Land Size850,291

Land Value$5,952,038

Improved Value$70,875,799

Total Assessed Value$76,827,837

Year Built2014

County NameDenton

Account Number653825

Cap Rate8.00%

Very Walkable

Good Transit

Bikeable

Amenities

Air ConditioningCentral

Parking Space966

HeatingCentral

PoolSwimming Pools

Type ConstructionOther

No of Stories2

Garage TypeAttached Garages,Covered Parking/Carport,Detached Garages

Bathrooms28

PatioAvailable

Social Activities1

Valet Trash1

Vaulted Ceilings1

Walk-in Closets1

School Bus Pickup1

Granite Countertops1

Steel Appliances1

Number of Units352

Exterior WallsBrick veneer

Sales History

2/18/2025

Arms-length$47,288,150

Buyer

Csimrw Sorrel Property Llc

Seller

Sorrelbo Llc

Book Number

2025.17171

Recording Date

2/18/2025

Transaction Details

Csimrw Sorrel Property Llc acquired the property from Sorrelbo Llc through a Arms-length transaction on 2/18/2025 for $47,288,150.

7/8/2019

Other$57,900,000

Buyer

Seller

Book Number

Recording Date

7/8/2019

Transaction Details

acquired the property from through a Other transaction on 7/8/2019 for $57,900,000.

11/5/2015

Arms-length$48,355,000

Buyer

Carroll Organization

Seller

Villas Phillips Creek Partners Llc

Book Number

2015-126017

Recording Date

11/5/2015

Transaction Details

Carroll Organization acquired the property from Villas Phillips Creek Partners Llc through a Arms-length transaction on 11/5/2015 for $48,355,000.

Property constructed in 2014

YSale Price (USD) byXSales Year

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Mortgage History

2/18/2025

New construction residential transactions$35,555,000

Borrower

Csimrw Sorrel Property Llc

Lender

Rangewater Capital Ii Llc

Book Number

2025.17172

Recording Date

2/18/2025

Transaction Details

Csimrw Sorrel Property Llc borrowed the property from Rangewater Capital Ii Llc through a New construction residential transactions transaction on 2/18/2025 for $35,555,000.

6/26/2024

Arms length residential transactions purchase or resales$402,791

Borrower

Sivalingam Prakash

Lender

Dhi Mortgage Company Ltd

Book Number

2024.68827

Recording Date

6/26/2024

Transaction Details

Sivalingam Prakash borrowed the property from Dhi Mortgage Company Ltd through a Arms length residential transactions purchase or resales transaction on 6/26/2024 for $402,791.

10/23/2015

Helocs both purchase money and non purchase money helocs$38,684,000

Borrower

Br Carroll Phillips Creek Ranch Llc

Lender

Cbre Capital Markets Inc

Book Number

2015.126018

Recording Date

10/23/2015

Transaction Details

Br Carroll Phillips Creek Ranch Llc borrowed the property from Cbre Capital Markets Inc through a Helocs both purchase money and non purchase money helocs transaction on 10/23/2015 for $38,684,000.

6/20/2013

Sale$30,100,000

Borrower

Villas Phillips Creek Partners Llc

Lender

Morrow Investors Inc

Book Number

2013.76426

Recording Date

6/20/2013

Transaction Details

Villas Phillips Creek Partners Llc borrowed the property from Morrow Investors Inc through a transaction on 6/20/2013 for $30,100,000.

Property constructed in 2014

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Assessment History

Assessment Year ↓	Assessed Land Value ↕	Assessed Improved Value ↕	Assessed Total Value ↕	Market Value ↕	Owner Name ↕	Owner Address ↕	Legal Description ↕	Neighborhood Code ↕	Sub Division ↕	Land Size (SF) ↕	GBA (SF) ↕
2026	$5,952,038	$73,217,431	$79,169,469	$79,169,469	Csimrw Sorrel Proper...	5605 Glenridge Dr St...	Avenues Of Phillip C...	Mf01G01A6	Sf0401A	850,291	371,385
2025	$5,952,038	$65,438,830	$71,390,868	$71,390,868	Csimrw Sorrel Proper...	C/o Rangewater Real ...	Avenues Of Phillip C...	MF01G01A3	Sf0401A	850,291	371,385
2024	$5,952,038	$62,147,962	$68,100,000	$68,100,000	Sorrel/bo Llc & Sorr...	1005 17th Ave S Ste ...	Avenues Of Phillip C...	Mf01A3S10	Sf0401A	850,291	371,385
2023	$5,952,038	$60,047,962	$66,000,000	$66,000,000	Sorrel/bo Llc & Sorr...	3301 W End Ave Ste 2...	Avenues Of Phillip C...	MF01A3S10	Sf0401A	850,291	371,385
2022	$5,952,038	$56,047,962	$62,000,000	$62,000,000	Sorrel/bo Llc & Sorr...	3301 W End Ave Ste 2...	Avenues Of Phillip C...	MF01A3S10	SF0401A	850,291	371,385
2021	$5,952,038	$45,451,448	$51,403,486	$51,403,486	Sorrel/bo Llc & Sorr...	3301 W End Ave Ste 2...	Avenues Of Phillip C...	MF01A3S10	SF0401A	850,291	371,385
2020	$5,952,038	$46,547,962	$52,500,000	$52,500,000	Sorrel/bo Llc & Sorr...	3301 W End Ave Ste 2...	Avenues Of Phillip C...	MF01A3S10	SF0401A	850,291	371,385
2019	$5,952,038	$49,247,962	$55,200,000	$55,200,000	Br Carroll Phillips ...	C/o Ryan Llc, 13155 ...	Avenues Of Phillip C...	MF01A3S10	SF0401A	850,291	371,385
2018	$5,952,038	$42,427,962	$48,380,000	$48,380,000	Br Carroll Phillips ...	C/o Ryan Llc, 13155 ...	Avenues Of Phillip C...	MF01S10A1	SF0401A	850,291	371,385
2017	$5,952,038	$41,947,962	$47,900,000	$47,900,000	Br Carroll Phillips ...	C/o Carroll Acquisit...	Avenues Of Phillip C...	MF01S10A1	SF0401A	850,291	371,385

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Showing 1 to 10 of 12 entries

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Rent & Occupancy

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Comparables

Address ↕	Assessors Parcel Number ↕	Property Type ↕	Property Sub Type ↕	Owner Name ↕	County ↕	Miles ↕	Sale Price ↕	Sale Date ↕	Price / SF ↕	Year Built ↕	GBA ↕	Units ↕
5050 Fm 423, Frisco, TX 75036	653825	Apartments	Apartment (4 - 20 units)	Csimrw Sorrel Property Llc	Denton	-	$ 47,288,150	2025-02-18	$ 127.33	2014	371,385	352
3901 Accent Dr, Dallas, TX 75287	179781	Apartments	Apartment (4 - 20 units)	3939 East Trinity Mills Llc	Denton	9.5	$ 76,230,000	2024-10-01	$ 212.07	1995	359,462	500
350 Continental Dr, Lewisville, TX 75067	201287	Apartments	Apartment (4 - 20 units)	Mvr Apartments I Lp	Denton	9.7	$ 40,698,000	2024-10-18	$ 135.51	2003	300,324	304
26493 E University Dr, Aubrey, TX 76227	706438	Apartments	Apartment (4 - 20 units)	Pecos Housing Finance Corporation	Denton	8.7	$ 55,394,500	2025-02-26	$ 154.84	2016	357,742	416
3702 Frankford Rd, Dallas, TX 75287	199420	Apartments	Apartment (4 - 20 units)	Frankford Springs Borrower Llc	Denton	9.0	$ 54,789,350	2025-12-01	$ 156.64	1998	349,784	332
3930 Accent Dr, Dallas, TX 75287	75290	Apartments	Apartment (4 - 20 units)	3939 East Trinity Mills Llc	Denton	9.6	$ 76,230,000	2024-10-01	$ 372.82	1999	204,470	500
3653 Timberglen Rd, Dallas, TX 75287	200559	Apartments	Apartment (4 - 20 units)	Wwc Lx Lp	Denton	8.5	$ 39,191,110	2025-07-17	$ 179.24	1999	218,648	276
919 W Eagle Dr, Denton, TX 76201	556960	Apartments	Apartment (4 - 20 units)	919 Eagle Dr Ground Owner Llc	Denton	15.8	$ 32,252,500	2025-01-02	$ 201.58	2012	160,002	139
905 Cleveland St, Denton, TX 76201	498438	Apartments	Apartment (4 - 20 units)	Gpl Midtown Propco Llc	Denton	15.5	$ 37,539,250	2024-09-27	$ 208.14	2010	180,355	120
15901 Championship Pkwy, Fort Worth, TX 76177	1003641	Apartments	Apartment (4 - 20 units)	Champions Way Dfw Lp	Denton	24.4	$ 74,480,000	2025-09-30	$ 155.78	2023	478,113	-
1104 Highway 114, Fort Worth, TX 76247	766701	Apartments	Apartment (4 - 20 units)	Nexmetro Reserve Lp	Denton	26.6	$ 33,250,000	2025-04-11	$ 151.93	2020	218,844	227

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Nearby Lenders

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Search:

Lender Name ↕	Property Address ↕	Loan Date ↕	Mortgage Amount ↕	Land Size (SF) ↕	Year Built ↕	GBA (SF) ↕	Total Assessed Value ↕	Land Assessed Value ↕	Borrower ↕
—	5050 Fm 423, Frisco, TX 75036	—	-	850,291	2014	371,385	$ 76,827,837	$ 5,952,038	-
Grandbridge Re Capital Llc	1152 Indian Run Dr, Carrollton, TX 75010	07/31/2025	$ 14,901,000	616,461	2003	222,993	$ 36,299,520	$ 3,698,766	Marbella Llc
Mozaic Loan Acquisition Lp	5775 Blairview St Unit357, Frisco, TX 75034	07/29/2025	$ 57,500,000	162,087	2022	416,345	$ 72,531,363	$ 4,538,429	Tbeqr Remy Property Owner Lp
United Wholesale Mortgage Llc	218 Milton St UnitA-D, Lewisville, TX 75057	06/03/2025	$ 300,000	8,799	1974	4,900	$ 294,641	$ 140,786	Dunn Realty Investments Llc
Cbre Multifamily Capital Inc	7777 Adelaide St, Frisco, TX 75034	05/13/2025	$ 43,020,000	245,243	2017	332,361	$ 69,000,000	$ 1,961,942	Ca Maxwell Owner Llc
Citibank Na	307 N Loop 288, Denton, TX 76209	04/29/2025	$ 10,799,000	302,219	1970	114,309	$ 12,520,940	$ 1,511,095	Singing Oaks Llc
Capital One Na	5210 Long Prairie Rd, Flower Mound, TX 75028	03/25/2025	$ 30,638,000	675,049	1999	305,783	$ 56,586,607	$ 6,750,490	Sjs Lantana Llc
Regions Bank	26493 E University Dr, Aubrey, TX 76227	02/26/2025	$ 41,650,000	733,951	2016	357,742	$ 75,731,542	$ 13,211,121	Spi Aubrey 416 De Llc
Pnc Bank National Association	2411 S I35e, Denton, TX 76205	02/26/2025	$ 15,700,000	547,819	1986	232,942	$ 36,370,000	$ 3,286,916
Rangewater Capital Ii Llc	5050 Fm 423, Frisco, TX 75036	02/18/2025	$ 35,555,000	850,291	2014	371,385	$ 76,827,837	$ 5,952,038	Csimrw Sorrel Property Llc
Homewood Mortgage Llc	1901 Kingswood Ct, Denton, TX 76205	01/03/2025	$ 568,125	19,100	1975	5,474	$ 564,455	$ 114,600	Manning Investment Group Llc

Mean$ 26,615,987

Median$ 19,792,500.0

Loan Amount Range$ 300,000 - $ 157,700,000

Showing 1 to 10 of 26 entries

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Tenant Details

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Property Address ↕	Owner Name ↕	Phone ↕	Industry Description ↕
5050 FM 423 # 1100, FRISCO, TX 75036-7124	SILVERSTAR	4693072357	NONCLASSIFIED ESTABLISHMENTS
5050 FM 423, FRISCO, TX 75036-7124	SORREL AT PHILLIPS CREEK RANCH	4693623100	APARTMENTS
5050 FM 423, FRISCO, TX 75036-7124	VILLAS PHILLIPS CREEK PARTNERS	4693623100	REAL ESTATE
5050 FM 423, FRISCO, TX 75036-7124	CHARLIE'S COOKIE SHOP	9728490148	BAKERS-RETAIL

Showing 1 to 4 of 4 entries

Tenant Industry Distribution

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License Details

License Number

32092693020

Permit Holders

Issued By

Sales Tax Permit Holders

State Authority

Issue Date

12/5/2023

Original Issuance

Expire Date

-

Owner Details

Category	Field	Value
Owner / Tax Payer	Owner Name	JOYOUS RAMSEY
	Address Line	5050 f.m. 423 building 1 1102
	City / State / Zip	frisco TX 75036
Entity Information	Entity Type	-
Entity Information	Business Type	-
Zoning Information	Zoning	-
Government Codes	FIPS Code	48121
Government Codes	Census Tract	-
Postal Information	ZIP Status Code	75036
Registration Details	SOS Code

License Timeline

License Issued

12/5/2023

Currently Active

Status: -

Renewal Required

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