For Sale
$12,500,000

927 Maplewood DrHarker Heights, TX 76548

92-Unit Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a portfolio of 46 duplexes, totaling 92 units, located in Harker Heights, Texas. Built between 2004 and 2021, this stabilized multifamily property boasts a substantial 138,553 square feet of net rentable space. Currently operating at 99% occupancy, the portfolio generates a strong net operating income (NOI) of $626,780, representing a 5.01% cap rate. Pro-forma projections indicate a significant increase in NOI to $858,772 and a 6.87% cap rate, showcasing substantial upside potential. The asking price is $12,500,000, translating to $135,869.57 per unit and $90.22 per square foot. The property is comprised of single-story buildings and benefits from established property management, ensuring consistent income generation and minimal vacancy. This portfolio is offered as a whole, but inquiries are welcome for potential smaller packages of 48, 28, or 16 units. The property is individually/LLC owned and located at 927 Maplewood Dr, Harker Heights, TX 76548, in Bell County. This is an ideal acquisition for investors seeking a high-performing, multifamily asset with proven profitability and significant growth prospects in a desirable Texas market.

Highlights

  • Portfolio of 46 duplexes (92 units) in Harker Heights, TX.
  • 138,553 square feet of net rentable space, built 2004-2021.
  • 99% occupancy, $626,780 current NOI, 5.01% cap rate.
  • Pro-forma NOI of $858,772, 6.87% projected cap rate.
  • $12,500,000 asking price; $135,870 per unit; $90.22 per square foot.

Property Details for 927 Maplewood Dr

Property type
Residential income homes
Square Feet
138,553 SF
Buildings
46
Stories
1
Units
92

Location Insight

City
Harker Heights
County
Bell
State
Texas
Latitude
31.0603562
Longitude
-97.6542388
927 Maplewood Dr, Harker Heights, Texas

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927 Maplewood Dr
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