9-Unit Multifamily
For Sale
$1,050,000
306 S Walnut St, Lampasas, TX 76550
Each residence has two bedrooms and a dedicated carport or garage space.
Property Size3,628 SF
Price / SF$289.42
Days on Market10
Property Features for 306 S Walnut St
General Information
Standard status
Active
Size
3,628 SF
Total Parking Spaces
9
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA, 2 x 2BR/1.5BA, 3 x 2BR/2BA
Multifamily Units
9
Parking per Unit
1
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1995
Buildings
3
Listing Agency:
Bumpus Real Estate
Listed By:
Ronald Bumpus (512) 734-2694 · License #0527713
(512) 734-2694
Source:
Allcentraltxhomesforsale
Added: Oct 20
Changed: Oct 27
Last Checked: Oct 28 at 8:27AM
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 Bumpus Real Estate
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Investment Insights
Based on property information with market context.
This occupied rental portfolio consists of three multifamily properties with nine units in total. The mix includes a fourplex at 306 S Walnut St, a duplex at 203/205 W 3rd Street, and a triplex at 208/210 S Ridge and 403 W 2nd. All units are currently rented.
Every residence has a two-bedroom layout. The fourplex units each include one bathroom and a carport space. In the duplex, each unit has one and a half bathrooms and a one-car garage; the triplex units each have two bathrooms and a one-car garage.
Every residence has a two-bedroom layout. The fourplex units each include one bathroom and a carport space. In the duplex, each unit has one and a half bathrooms and a one-car garage; the triplex units each have two bathrooms and a one-car garage.
Key Highlights
- Nine rental units across a fourplex, duplex, and triplex
- All units currently occupied
- Fourplex at 306 S Walnut St: four 2‑bedroom, 1‑bath units with one carport space per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,357
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,140
$627.1K
Cap Rate 7%
$447,957
$448.0K
Cap Rate 9%
$348,411
$348.4K
Market Conditions
NOI Build-Up for 3,628 SF
Gross rent
$47.9K $13.20/SF
− Vacancy
−$3.1K −$0.85/SF
EGI
$44.8K $12.35/SF
− OpEx
−$13.4K −$3.70/SF
NOI
$31.4K $8.64/SF
Area
Lampasas County, TX
Vacancy
6.46%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,140
Cap Rate 7%
$447,957
Cap Rate 9%
$348,411
Alternative Uses
Best Use
Multifamily LT 5
$448.0K
$392.0K – $522.6K
NOI $31,357 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$414.5K
$362.7K – $483.5K
NOI $29,012 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$871.4K
$762.5K – $1.02M
NOI $60,999 @ 7.0% cap · market cap 5.81%
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
9
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
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Business Placement
Demographics for 76550, TX
12,840
Population
6,129
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
541.5 sq mi
ZIP Area
24
Density / Sq Mi
$73,697
Median Household Income
$34,970
Median Earnings
$902
Median Rent
$237,600
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?
Multifamily property - Each residence has two bedrooms and a dedicated carport or garage space.
Where is this multifamily property located?
The property is located at 306 S Walnut St Lampasas, TX.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Nine rental units across a fourplex, duplex, and triplex; All units currently occupied; Fourplex at 306 S Walnut St: four 2‑bedroom, 1‑bath units with one carport space per unit
