9-Unit Multifamily
New
For Sale
$1,050,000
306 S Walnut Street, Lampasas, TX 76550
Residential, Lampasas, TX
Property Size3,628 SF
Lot Size0.21 Acres
Price / SF$289.42
Days on Market2
Property Features for 306 S Walnut Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
18
Full bathrooms
14
Rooms
Bedroom 1, Bathroom 12, Bathroom 5, Bathroom 3, Bathroom 13, Bathroom 2, Bathroom 11, Bedroom 11, Bedroom 3, Bedroom 17, Bedroom 4, Bedroom 5, Bedroom 8, Bedroom 6, Bedroom 12, Bedroom 10, Bathroom 6, Bathroom 10, Bedroom 18, Bathroom 4, Bathroom 8, Bedroom 13, Bathroom 9, Bedroom 2, Bedroom 9, Bedroom 15, Bedroom 14, Bedroom 7, Bedroom 16, Bathroom 7, Bathroom 14, Bathroom 1
Interior features
CeilingFans
Subdivision
L S C 1st
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
Lampasas ISD
Middle school district
Lampasas ISD
High school district
Lampasas ISD
Directions
Located at the corner of 3rd St and Walnut. The triplex is located at the corner of 2nd St and Ridge.
Standard status
Active
APN
1227
Size
3,628 SF
Lot size
0.21 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2026
Tax Description
LOT: E 65 OF 1 AND 2 BLK: 18 ADDN: L S C 1ST
Tax Annual Amount
7581
Legal Description
LOT: E 65 OF 1 AND 2 BLK: 18 ADDN: L S C 1ST
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1995
Floors in Building
1
Number of units
9
Building materials
BrickVeneer, HardiplankType
Roof type
Composition, Shingle
Listing Agency:
Bumpus Real Estate
(512) 401-2867
Listed By:
Ronald Bumpus · License #0527713
(512) 734-2694
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 24 at 8:06PM
MLS# 628496
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This Lampasas multifamily portfolio comprises three buildings and 9 rental units, with all units currently occupied. The collection includes a fourplex, a duplex, and a triplex. Each apartment has two bedrooms; bathroom layouts vary, with one bathroom in the fourplex, 1.5 in the duplex, and two in the triplex. Every unit has a dedicated parking space, provided by carport or garage depending on the building.
The properties are at 306 S Walnut Street, 203/205 W 3rd Street, 208/210 S Ridge, and 403 W 2nd Street in Lampasas. The portfolio combines multiple small multifamily buildings in one offering, with consistent two-bedroom floor plans across the units.
The properties are at 306 S Walnut Street, 203/205 W 3rd Street, 208/210 S Ridge, and 403 W 2nd Street in Lampasas. The portfolio combines multiple small multifamily buildings in one offering, with consistent two-bedroom floor plans across the units.
Key Highlights
- Three Lampasas multifamily buildings with 9 occupied rental units
- Includes one fourplex, one duplex, and one triplex
- All 9 units have two bedrooms
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.
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Lease Details
9
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Explore this area
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three occupied rental buildings offer two-bedroom layouts and dedicated carport or garage parking for every unit.
Where is this multifamily property located?
The property is located at 306 S Walnut Street 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: Three Lampasas multifamily buildings with 9 occupied rental units; Includes one fourplex, one duplex, and one triplex; All 9 units have two bedrooms
