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501 Co RdStephenville, TX 76401

Texas Multifamily Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 10-unit apartment building presents a compelling value-add investment opportunity in Stephenville, Texas. Situated on a spacious 10.5-acre lot at 501 Co Rd 423, zip code 76401, this 2015-built Class C property boasts 10,800 square feet of net rentable space and currently enjoys 100% occupancy, generating a strong NOI of $160,000. Each unit features two bedrooms and two bathrooms, and the property includes 25 parking spaces. The property includes 40 horse stalls that generate additional rental income. Conveniently located just five minutes from Stephenville and less than ten minutes from Tarleton State University, this property benefits from a high demand for rental units, particularly given its proximity to the Tarleton Equine Facility. Water, trash, and sewer are included in the rent. The property also features a roping arena and an additional five acres of undeveloped land offering significant potential for expansion or alternative uses. The current rents are below market value, presenting a clear path to increase profitability. This is a rare opportunity to acquire a well-located, income-producing multifamily property with significant upside potential in a growing Texas market. The property is being sold free and clear, without a ground lease. Inside and outside pets are welcome.

Highlights

  • Five acres of undeveloped land offer expansion potential.
  • Significant rental income upside through market rent adjustments.

Property Details for 501 Co Rd

Property type
Apartment buildings
Square Feet
10,800 SF
Class
C
Year Built
2015
Buildings
1
Lot Size (sq. ft)
457,380 SF
Units
10

Location Insight

City
Stephenville
County
Erath
State
Texas
Latitude
32.291280127997
Longitude
-98.280411642234
501 Co Rd, Stephenville, Texas

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501 Co Rd
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