1609 Hill St Three Rivers, TX 78071
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28-Unit Value-Add Multifamily Investment
Property size:
16,000 SFProperty 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
Listing Agent: Adrian Gracia
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
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
Location Insight
- Map
- Local Demand
- City
- Three Rivers
- County
- Live Oak
- State
- Texas
- Longitude
- -98.176347
- Latitude
- 28.4763946
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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%.
