130 Town StCenterville, TX 75833

Property Details for 130 Town St

Year built

2013

Lot size

1.05 AC

Property size (Sq ft)

10,544 SF

Property type

Other multifamily properties

Property subtype

Residential income properties

Description

This exceptional 16-unit multifamily property in Centerville, Texas, presents a compelling investment opportunity. Situated on a spacious 1.05-acre lot at 130 Town St, this complex offers significant upside potential. The property comprises two main buildings, one constructed in 2013 and the other in 1988, each housing eight identical two-bedroom, one-bathroom units. These units feature functional floor plans, simplifying management and maintenance. A convenient freestanding clubhouse and laundry room cater to residents, complemented by a 32-car parking lot. The property benefits from recent renovations totaling $230,000 between 2018 and 2024, enhancing its appeal and profitability. Furthermore, a concrete slab is already in place, providing a foundation for the construction of an additional eight units, should an investor choose to expand. Currently boasting 100% occupancy with long-term tenants, this property enjoys a highly competitive cap rate and price per door. The property's location in Centerville offers a distinct advantage, with minimal competition in the local market. Finally, the effective tax rate is exceptionally low at just 0.55%, based on the appraised value, further enhancing the investment's attractiveness. The total square footage of the property is 10,544 square feet. This property is a turnkey investment ready for immediate income generation and future growth.

Location Insight

City

Centerville

County

Leon

State

Texas

Latitude

31.2562

Longitude

-95.9756

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