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1609 Hill St Three Rivers, TX 78071

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28-Unit Value-Add Multifamily Investment

Property size:
16,000 SF

Property Features for 1609 Hill St

General Information

Property type
Multifamily properties
Square Feet
16,000 SF
Class
B

Building Details

Year Built
2013
Buildings
2
Stories
2
Units
28

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Listing Contact
Adrian Gracia

Listing Agent: Adrian Gracia

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional 28-unit apartment building presents a compelling value-add opportunity in Three Rivers, Texas. Built in 2013, the property boasts 16,000-16,300 square feet across two, two-story buildings situated on a 39,664 square foot lot zoned for commercial use. Currently operating at 61% occupancy, the property generates a current NOI of $84,794, representing a 3.86% cap rate. However, a pro-forma analysis projects a significant increase to an 8.56% cap rate and $188,000 NOI. All 28 units are fully furnished and feature granite countertops, solid wood doors, and no carpet, appealing to a wide range of tenants. Conveniently located off Highway 281, just three miles from the intersection of Highway 281 and I-37, and 1.5 miles from the Valero Refinery, the property benefits from its proximity to the Eagle Ford Shale, an area experiencing a housing shortage for oil workers. The asking price is $2,195,000, translating to $78,392.86 per unit. This presents a rare chance to acquire a well-maintained multifamily asset with substantial upside potential in a high-demand market. Each unit includes a laundry room.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Eagle Ford Apartments Vacation Rental

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Building Supply Hair Salon Big Box & Wholesale Store Nail Salon Department Store Auto Parts Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Three Rivers
County
Live Oak
State
Texas
Longitude
-98.176347
Latitude
28.4763946

FAQs

What type of property is this?
Multifamily property - 28-Unit Value-Add Multifamily Investment
Where is this multifamily property located?
The property is located at 1609 Hill St Three Rivers, TX.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: $2,195,000 asking price for this value-add multifamily investment opportunity.; 28-unit apartment building with a 61% occupancy rate.; Currently generating $84,794 NOI, with a pro-forma NOI of $188,000 and a pro-forma cap rate of 8.56%.
(210) 400-2588 Call to check price and availability
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