1512 3Rd StTemple, TX 76501

Property Details for 1512 3Rd St

Year built

1977

Property size (Sq ft)

3,372 SF

Property type

Apartment buildings

Description

This stabilized Class C multifamily property, located at 1512 North 3rd Street, Temple, Texas 76501, presents a compelling investment opportunity. The 1977-built, two-story apartment building comprises four units, each featuring two bedrooms and one bathroom, totaling 3,372 square feet on a 7,753 square foot lot. The property boasts a current NOI of $29,610, yielding an 8% cap rate, and a pro-forma NOI of $37,290, projecting a 10% cap rate. Each unit is priced at $92,000, with two parking spaces per unit. Utilities are separately metered, with tenants responsible for payment. The property is currently 100% occupied, with an occupancy date of September 23, 2024. This turnkey investment offers a strong return and potential for future appreciation in a desirable Temple location. The asking price is $369,000, translating to $109.43 per square foot. This is a freehold ownership with no ground lease.

Location Insight

City

Temple

County

Bell

State

Texas

Latitude

31.1125

Longitude

-97.3373

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