Centerville Apartments
16 Unit Apartment Building | $1,290,000 ($80,625/Unit) | 7.65% Cap Rate | Centerville, TX 75833
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,290,000
- Property Type
-
Multifamily
- Square Feet
- 10,267 SF
Listing Contacts
Kodi Nelson
Verified Profile
- Property Info
Property Overview
The Centerville Apartments is a prime multi-family property located in Leon County, featuring two 8-unit buildings (totaling 16 units), a Club House, a large yard, and a concrete slab with utilities present ready for a third building that can house an additional 8 units. Building #1, renovated in 2013, offers modern amenities, while Building #2 has been recently renovated (2023-2024). Each unit is a 2-bedroom, 1-bathroom apartment with 650 square feet of living space. The Club House includes an office, bathroom, storage space, and laundry room. RUBS program was just implemented and can be passed onto the new owner. This property offers an excellent investment opportunity with its expansion potential and desirable location. Don't miss out on owning this well-maintained, income-generating asset with significant growth potential.
Property Details
- Class
- C
- Year Built
- 1988
- Stories
- 2
- Lot Size (sq. ft)
- 45,738 SF
- Units
- 16
Highlights
- The Median household income of a Leon County resident is $48,763 a year. The US average is $53,482 a year
- Centerville Apartments is the only apartment complex in Leon County, resulting in minimal competition and consistently high occupancy rates
- The property includes a concrete slab where a third building can be constructed, offering significant potential for increasing the property’s value
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