For Sale
$1,600,000

208 Church St Hillsboro, TX 76645

20-unit apartment complex, high occupancy, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
133
This exceptional value-add multifamily investment opportunity presents a 20-unit apartment building totaling 15,250 square feet, situated at 208 Church St, Hillsboro, TX 76645. The property, built in 1984, consists of five, two-story buildings offering 32 parking spaces. Currently boasting 100% occupancy, the property generates a Net Operating Income (NOI) of $124,481, resulting in a compelling 7.78% capitalization rate. Priced at $1,600,000 ($104.92/sq ft and $80,000/unit), this Class C property presents significant upside potential. Located conveniently between Dallas-Fort Worth and Waco, with easy access to I-35, the property benefits from its proximity to the Hill County courthouse and the town square. The MF-29 (Multifamily Residential) zoning allows for various potential improvements and future development. This investment offers a rare chance to capitalize on high occupancy, low competition in the submarket, and the potential for rent growth and property appreciation. The property's APN is 106908.

Highlights

  • Ample parking (32 spaces).
  • Low submarket competition.
  • 100% occupancy.
  • Significant potential for rent growth and appreciation.
  • Walking distance to Hillsboro town square.

Property Details for 208 Church St

Property type
Apartment buildings
Square Feet
15,250 SF
Class
C
Year Built
1984
Buildings
5
Stories
2
Units
20

Location Insight

City
Hillsboro
County
Hill
State
Texas
Latitude
32.012661
Longitude
-97.127906

FAQs

What type of property is this?
Apartment building - 20-unit apartment complex, high occupancy, strong ROI.
Where is the apartment building located?
The property is located at 208 Church St Hillsboro, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Ample parking (32 spaces).; Low submarket competition.; 100% occupancy.
How can I contact the broker?
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208 Church St
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