For Sale
$369,000

1512 3Rd St Temple, TX 76501

Fourplex, High Cap Rate, Texas

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This stabilized Class C multifamily property, located at 1512 North 3rd Street, Temple, Texas 76501, presents a compelling investment opportunity. The 1977-built, two-story apartment building comprises four units, each featuring two bedrooms and one bathroom, totaling 3,372 square feet on a 7,753 square foot lot. The property boasts a current NOI of $29,610, yielding an 8% cap rate, and a pro-forma NOI of $37,290, projecting a 10% cap rate. Each unit is priced at $92,000, with two parking spaces per unit. Utilities are separately metered, with tenants responsible for payment. The property is currently 100% occupied, with an occupancy date of September 23, 2024. This turnkey investment offers a strong return and potential for future appreciation in a desirable Temple location. The asking price is $369,000, translating to $109.43 per square foot. This is a freehold ownership with no ground lease.

Highlights

  • Class C multifamily property in Temple, TX, offering a strong investment opportunity.
  • Four-unit, two-story building (3,372 sq ft) on a 7,753 sq ft lot.
  • Current NOI of $29,610 (8% cap rate), pro-forma NOI of $37,290 (10% cap rate).
  • Asking price: $369,000 ($109.43/sq ft), each unit priced at $92,000.
  • 100% occupancy, two parking spaces per unit, separately metered utilities.

Property Details for 1512 3Rd St

Property type
Apartment buildings
Square Feet
3,372 SF
Class
C
Year Built
1977
Buildings
1
Stories
2
Units
4

Location Insight

City
Temple
County
Bell
State
Texas
Latitude
31.112463532836
Longitude
-97.33734704309

FAQs

What type of property is this?
Apartment building - Fourplex, High Cap Rate, Texas
Where is the apartment building located?
The property is located at 1512 3Rd St Temple, TX.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Class C multifamily property in Temple, TX, offering a strong investment opportunity.; Four-unit, two-story building (3,372 sq ft) on a 7,753 sq ft lot.; Current NOI of $29,610 (8% cap rate), pro-forma NOI of $37,290 (10% cap rate).
How can I contact the broker?
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1512 3Rd St
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