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Centerville,TX 75833
Key Details
Property Type Commercial
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,544 sqft
Price per Sqft $113
MLS Listing ID 7206072
Originating Board actris
Year Built 2013
Annual Tax Amount $6,477
Tax Year 2025
Lot Size 1.050 Acres
Property Sub-Type Multi-Family
Property Description
Discover this one-of-a-kind investment opportunity in the Texas Triangle with this recently renovated 16-unit complex boasting 8.8% cap rate and $75k price per door that beat comps. $230k in renovations between 2018-2024, and there are still multiple opportunities to add value and substantially increase NOI!
The property boasts two main buildings - 2013 build and 1988 build - with 8 units each, plus a freestanding clubhouse & laundry room, 32-car parking lot, a slab where 8 more units can be built, and 1.05 acre lot providing plenty of room for expansion. All units are identical 2 bed/1 bath with functional floorplan, allowing for easier management.
The property has almost no competition in Centerville and is 100% occupied as a result! It is professionally managed and has great long-term tenants in place.
Finally, this property boasts effective tax rate of only 0.55% (based on the tax appraisal value).
Location
State TX
County Leon
Zoning B1 Apartments
Interior
Heating Central
Cooling Wall/Window Unit(s)
Flooring Vinyl
Fireplace N
Exterior
Utilities Available See Remarks
View None
Accessibility See Remarks
Total Parking Spaces 32
Building
Story 2
Foundation Slab
Sewer Public Sewer
Water Public
Structure Type Brick Veneer,Frame,HardiPlank Type
New Construction No
Others
Restrictions See Remarks
Acceptable Financing See Remarks
Tax Rate 1.97
Listing Terms See Remarks
Special Listing Condition Standard