For Sale
$450,000

400 Leopard Ave Livingston, TX 77351

Five-unit apartment building, high potential.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This exceptional value-add opportunity presents a five-unit apartment building located at 400 Leopard Avenue, Livingston, Texas, 77351. The property, built in 1970, comprises a single-story structure encompassing 3,400 square feet on a 10,600 square foot lot. Currently featuring five two-bedroom, one-bathroom units, the building offers significant upside potential. With a current occupancy rate of 40%, the property boasts a projected net operating income (NOI) of $42,000, translating to an 8.40% cap rate and a pro-forma cap rate of 9.33%. The asking price is $450,000, or $90,000 per unit, and $132.35 per square foot. Each unit includes two parking spaces. The property is situated in a quiet residential neighborhood and benefits from proximity to public amenities. An additional lot provides an opportunity for expansion. The projected occupancy date is September 30, 2024. This is an ideal investment for those seeking to capitalize on a strong rental market and enhance property value through strategic improvements. The property is zoned NA.

Highlights

  • Multi-tenant apartment building, 40% occupancy.
  • Five two-bedroom units.
  • Located at 400 Leopard, Livingston, TX.
  • Includes additional land parcel.
  • Convenient to public amenities.

Property Details for 400 Leopard Ave

Property type
Apartment buildings
Square Feet
3,400 SF
Class
C
Year Built
1970
Buildings
1
Stories
1
Units
5

Location Insight

City
Livingston
County
Polk
State
Texas
Latitude
30.722974842227
Longitude
-94.94237248391

FAQs

What type of property is this?
Apartment building - Five-unit apartment building, high potential.
Where is the apartment building located?
The property is located at 400 Leopard Ave Livingston, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Multi-tenant apartment building, 40% occupancy.; Five two-bedroom units.; Located at 400 Leopard, Livingston, TX.
How can I contact the broker?
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400 Leopard Ave
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