Tenant-Occupied
For Sale
$300,000
2023 N Willis St, Abilene, TX 79603
Triplex with two occupied units and one vacant unit, built in 1963, offering flexible leasing or value-add possibilities.
Property Size3,312 SF
Price / SF$90.58
Days on Market96
Property Features for 2023 N Willis St
General Information
Standard status
Active
Size
3,312 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Westwood Richland
Building Details
Year Built
1963
Tenancy
Multi
Listing Agency:
Barnett & Hill
Listed By:
Chelsea Stroud · License #0830963
(928) 404-3619
Source:
Tonyaharbin
Added: Jul 28
Changed: Oct 26
Last Checked: Oct 6 at 12:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Barnett & Hill
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This tenant-occupied triplex offers immediate rental income with two occupied units, plus an additional unit currently vacant. The vacant unit provides flexibility for a new lease or renovation to support value enhancement. The property is positioned for buyers looking for residential income with both current cash flow and a clear path to activate the remaining unit.
The triplex is located at 2023 N Willis Street in Abilene, TX 79603. Showings are available by appointment only, and tenants are not to be disturbed.
Built in 1963, the property consists of three residential units and is being offered for sale with the current occupancy configuration in place.
The triplex is located at 2023 N Willis Street in Abilene, TX 79603. Showings are available by appointment only, and tenants are not to be disturbed.
Built in 1963, the property consists of three residential units and is being offered for sale with the current occupancy configuration in place.
Key Highlights
- Triplex with two occupied units and one vacant unit
- Tenant‑occupied property with immediate rental income from two units
- Vacant unit offers flexibility to lease or renovate and add value
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,459
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,180
$549.2K
Cap Rate 7%
$392,271
$392.3K
Cap Rate 9%
$305,100
$305.1K
Market Conditions
NOI Build-Up for 3,312 SF
Gross rent
$41.7K $12.60/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$39.2K $11.84/SF
− OpEx
−$11.8K −$3.55/SF
NOI
$27.5K $8.29/SF
Area
Abilene, TX
Vacancy
6.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,180
Cap Rate 7%
$392,271
Cap Rate 9%
$305,100
Alternative Uses
Best Use
Multifamily LT 5
$392.3K
$343.2K – $457.7K
NOI $27,459 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$363.0K
$317.6K – $423.5K
NOI $25,408 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$739.5K
$647.0K – $862.7K
NOI $51,763 @ 7.0% cap · market cap 17.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Explore this area
Business Placement
Demographics for 79603, TX
23,746
Population
9,960
Households
2.4
Avg Household Size
35
Median Age
17%
College-Educated
83%
High-School Grad
59.2 sq mi
ZIP Area
401
Density / Sq Mi
$53,579
Median Household Income
$32,339
Median Earnings
$1,022
Median Rent
$114,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Triplex with two occupied units and one vacant unit, built in 1963, offering flexible leasing or value-add possibilities.
Where is this triplex located?
The property is located at 2023 N Willis St Abilene, TX.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Triplex with two occupied units and one vacant unit; Tenant‑occupied property with immediate rental income from two units; Vacant unit offers flexibility to lease or renovate and add value
