2001 20Th StHooks, TX 75561

Property Details for 2001 20Th St

Year built

1982

Lot size

0.25 AC

Property size (Sq ft)

4,075 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a fully occupied, 10-unit apartment building located at 2001 E 20th St, Hooks, TX 75561. The property, situated on a 0.25-acre lot, features a total of 4,075 square feet of net rentable space, with each unit priced at $60,000. Built in 1982 and extensively renovated in 2022, this Class B multifamily property boasts a 100% occupancy rate, generating a substantial net operating income (NOI) of $61,140, resulting in a compelling 10.19% cap rate. The asking price is $600,000, translating to $147.24 per square foot. The two-story building offers a stable investment with low maintenance costs, thanks to the recent renovations. Its prime location at the corner of Hwy 82 & East 20th Street benefits from the area's robust employment opportunities. The property's strong financial performance, coupled with its recent upgrades and high occupancy, makes it an attractive addition to any real estate portfolio. The property is offered fee simple and the APN is 09620005400. This is a stabilized investment, offering immediate cash flow and long-term growth potential in a thriving Texas community.

Location Insight

City

Hooks

County

Bowie

State

Texas

Latitude

33.4668

Longitude

-94.2674

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