214 S. Locust Street Sulphur Springs, TX 75482

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214 S. Locust / 8 Plex

 
Price: US$ 305,000.00
No. Of Units: 8
Price Per Unit: US$ 38125.00
Status: Active
Category: For Sale
Type: DFW/Metro - Multifamily
Sub-Type: Multifamily - Garden/Low-Rise
Property Uses: Investment Property

No. Stories: 1
Parking Ratio: 1:1
Ceiling Height: 8
Grade Level: Yes
Commission Split: 3%
Cap Rate: 8.32%
Cash on Cash: 10.61%
Construction Status: Existing
Year Built: 1971
Adjusted Year Built: 2010
Building Size: 5842 Sq. ft.
Lot Size: .49 Acres
Occupancy: 100%
No. of Buildings: 1
GLA (Gross Leasable Area): 5200
Lease Rate: US$ 575.00

Documents:
·Offering Memorandum
·Property Disclosure

Property Description:

 This beautifully renovated 8-plex features all the best!!! New roof, asphalt parking lot, 300 ft cedar fence, HVAC’s, security lighting, 75 gallon hot water heater, US PS-approved commercial mailbox (12 spaces with 1 parcel locker), vinyl windows, doors, flooring, interior and exterior paint, hickory cabinetry, Formica countertops, tumbled marble backsplashes, appliances, lighting and plumbing fixtures, textured walls/ceilings, and landscaping. All- in-all, $175.000 was spent in capital improvements and it shows! The property offers the ease of virtually little to no maintenance costs and tenant retention due to its newness. This turn-key investment is one-of-a- kind in Sulphur Springs. The current owner operates the property as an “all-bills-paid” community, although, the new owner could potentially pass the electric to the tenants, since the property is individually metered. The property is located in a quiet neighborhood, walking distance from Travis Elementary School, fast food establishments and a local grocery store.

 

 

Highlights:
·TURN KEY INVESTMENT!!!
·Completely Renovated ? Interior & Exterior
·Over 8.7% Cap Rate on Actuals
·$175K Spent on Capital Improvements
·Low Maintenance Costs
·Easy Access to Schools, Shopping, Dining & Entertainment


Listing Company: W Brokerage Group