Redfish Run Apartments 8-Plex

8 Unit Apartment Building | $1,020,000 ($127,500/Unit) | 7% Cap Rate | Rockport, TX 78382

Asking Price $1,020,000

Property Type: Multifamily
Square Feet: 7,456 SF

Listing Contacts

Peggy Jones

Verified Profile

Property Info

Property Overview

Excellent investment opportunity with stable apartment tenants.
NOTE: The additional RV sites have water lines and metered electric pedestals. Sites could be rented after installation of collection lines to an existing unused septic system. Potential additional income using the RV Sites or for Tiny Homes.

Property Details

Class: C
Year Built/Renovated: 1984/2018
Stories: 2
Lot Size (sq. ft): 44,431 SF
Units: 8

Highlights

Six RV sites (not rented)
Stable Apartment tenants (8 Units) on written leases
2017 metal roof rated for 160 mph wind; Shatterproof Windows
Room for rate increases with tenant turnover
Tenant pays electric. City water & Garbage paid by landlord
1st Floor vinyl plank flooring; 2nd Floor Interface commercial tiles in bedrooms and vinyl plank

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