This exceptional investment opportunity presents a six-unit multifamily property situated on a spacious 1.5-acre lot in Bullard, Texas. The portfolio comprises four buildings, including a single-family dwelling (1212 sq ft, 2/1, renovated 2017 & currently undergoing upgrades), a duplex (1275 sq ft, 3/2, covered parking), and a triplex (1036 sq ft, 2/2, built in 2022). All units boast upgraded appliances, including washers and dryers, private fenced backyards, and brand-new septic systems. The property also features a 1000 sq ft metal storage building with two commercial-grade doors, offering potential for additional income or storage. The property offers 14 parking spaces and is currently 100% occupied, generating a substantial NOI of $75,815 and a 5.62% cap rate. Built between 1974 and 2022, with renovations completed in 2017 and 2023, this property offers a blend of established income and modern updates. The asking price is $1,350,000, representing $225,000 per unit and $139.48 per square foot. The total net rentable square footage is 9,679. This is a stabilized investment with significant upside potential due to the possibility of converting the single-family dwelling into a three-bedroom, two-bathroom unit, or utilizing the existing commercial zoning for alternative uses. The property is located at 20333 FM2493, Bullard, TX 75757.
Property Features for 20333 Fm 2493
General Information
Property type
Multifamily properties
Square Feet
9,679 SF
Lot Size
65,776 SF
Building Details
Year Renovated
2017
Buildings
4
Stories
1
Units
6
HighLights
Six separate income‑producing units on a 1.5‑acre lot.
1,212 sq ft single‑family dwelling (SFD), currently a 2/1 with formal dining, easily convertible to a 3/2. Already zoned commercial. Renovated in 2017 and currently undergoing upgrades.
1,275 sq ft duplex, 3/2 with covered parking.
1,036 sq ft triplex, 2/2, built in 2022, featuring granite countertops, farmhouse sink, covered patios, and aerobic sprinkler system.
All units boast upgraded appliances (including washer/dryer), private fenced backyards, and new septic systems. Concrete parking slab with two spots per unit.
1,000 sq ft metal storage building with two commercial‑grade doors, plumbed for a bathroom; suitable for storage, office space, or additional rental. Ample common area. 100% occupancy.
Multifamily property - Six-unit income property, 1.5 acres
Where is this multifamily property located?
The property is located at 20333 Fm 2493 Bullard, TX.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Six separate income-producing units on a 1.5-acre lot.; 1,212 sq ft single-family dwelling (SFD), currently a 2/1 with formal dining, easily convertible to a 3/2. Already zoned commercial. Renovated in 2017 and currently undergoing upgrades.; 1,275 sq ft duplex, 3/2 with covered parking.
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20333 Fm 2493 Bullard, TX 75757
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Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
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20333 Fm 2493 Bullard, TX 75757
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