Description
This property is a 5 Unit Apartment Complex in a great part of Leonard Texas. This property is an investor special! The projected after repair value per a formal appraisal conducted in May of 2022, is $420,000. This property is fire damaged and will need significant remodel work. Unit Mix: 3 Units are 1 bed-1bath units at 500sqft each with an average rental rate per comps of $744 per unit as of May 2022. 2 Units are 2 bed-1 bath at 600sqft each with an average rental rate per comps at $908 per unit as of May 2022. The total net rentable area of this complex is 2700sqft. This is a great equity and cashflow opportunity for the investor that wants to take on a large project. Schedule your viewing today!
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7BEDS
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0.16ACRES
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5BATHS
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01/2 BATHS
School Information
Description
This property is a 5 Unit Apartment Complex in a great part of Leonard Texas. This property is an investor special! The projected after repair value per a formal appraisal conducted in May of 2022, is $420,000. This property is fire damaged and will need significant remodel work. Unit Mix: 3 Units are 1 bed-1bath units at 500sqft each with an average rental rate per comps of $744 per unit as of May 2022. 2 Units are 2 bed-1 bath at 600sqft each with an average rental rate per comps at $908 per unit as of May 2022. The total net rentable area of this complex is 2700sqft. This is a great equity and cashflow opportunity for the investor that wants to take on a large project. Schedule your viewing today!
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