1506 3Rd StTemple, TX 76501

Property Details for 1506 3Rd St

Year built

1977

Property size (Sq ft)

3,372 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a well-maintained, four-unit apartment building located at 1506 North 3rd Street, Temple, Texas, 76501. The property, built in 1977, boasts a total of 3,372 square feet situated on a 7,753 square foot lot. The building is a two-story Class C multifamily property with a permitted commercial zoning designation. Each of the four units features two bedrooms and one bathroom, offering a functional floor plan. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $29,610, resulting in an 8% capitalization rate. A pro-forma NOI of $37,290 projects a 10% capitalization rate, indicating significant potential for increased profitability. Utilities are separately metered, with tenants responsible for their respective costs. The asking price is $369,000, translating to $92,000 per unit and $109.43 per square foot. Each unit includes two parking spaces. This stabilized investment is ideal for a variety of investors, including those seeking a buy-and-hold strategy or owner-occupancy. The property benefits from its location on a major Temple thoroughfare and the strong rental demand in the area.

Location Insight

City

Temple

County

Bell

State

Texas

Latitude

31.1123

Longitude

-97.3374

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].