For Sale
$389,900

420 Martin Luther King DrMexia, TX 76667

Four-unit apartment building with expansion potential.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 5,640 square foot multifamily property situated on approximately four acres in Mexia, Texas. Built in 2007, the property currently comprises four rental units: two manufactured homes (each 750 square feet), one manufactured home (1,116 square feet), and one manufactured home (1,824 square feet). In addition to the residential units, there is a 480 square foot cabin, a 1,200 square foot metal building, a 400 square foot three-sided metal carport, and a single portable metal carport. All existing manufactured homes were relocated and remodeled. The property offers significant upside potential for increased income through the addition of more manufactured homes or, with county approval, RV camper sites. The ample land provides room for expansion, and the property is currently undergoing a survey to confirm the approximate four-acre lot size. This property is located at 420 Martin Luther King Drive, Mexia, TX 76667. The asking price is $389,900.

Highlights

  • High-traffic location with excellent visibility on a major thoroughfare.
  • Recently renovated interior with modern finishes and updated systems.
  • Functional layout suitable for a variety of commercial uses.
  • Ample on-site parking available for tenants and customers.
  • Competitive lease terms available, offering flexible options.
  • Strategic location within a thriving commercial district, offering high growth potential.

Property Details for 420 Martin Luther King Dr

Property type
Land, Apartment buildings
Square Feet
5,640 SF
Year Built
2007
Lot Size (sq. ft)
174,240 SF

Location Insight

City
Mexia
County
Limestone
State
Texas
Latitude
31.6842746
Longitude
-96.4925911
420 Martin Luther King Dr, Mexia, Texas

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420 Martin Luther King Dr
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