Remarks

Discover this one-of-a-kind investment opportunity in the Texas Triangle with this recently renovated 16-unit complex boasting 8.8% cap rate and $75k price per door that beat comps. $230k in renovations between 2018-2024, and there are still multiple opportunities to add value and substantially increase NOI!

The property boasts two main buildings - 2013 build and 1988 build - with 8 units each, plus a freestanding clubhouse & laundry room, 32-car parking lot, a slab where 8 more units can be built, and 1.05 acre lot providing plenty of room for expansion. All units are identical 2 bed/1 bath with functional floorplan, allowing for easier management.

The property has almost no competition in Centerville and is 100% occupied as a result! It is professionally managed and has great long-term tenants in place.

Finally, this property boasts effective tax rate of only 0.55% (based on the tax appraisal value).

Details

MLS#: 7206072
Price: $1,199,000

Style: Multi-Family
Bedrooms: 0
Sq Ft: 10544
Year Built: 2013

County: Leon
Subdivision: N/A
Tax Fee: 6477