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    6 Main St Booker, TX 79005

    For Sale
    $950,000

    24-Unit Multifamily Investment Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a well-maintained 24-unit apartment complex in Booker, Texas, ideally situated at 6 N Main St and 56 Gatewood Dr, zip code 79005. The property comprises four two-story buildings, constructed in 1980 and renovated two years ago, offering a compelling 8.20% cap rate at an asking price of $950,000. The complex features a mix of unit configurations: twenty-two units boast two bedrooms, one and a half bathrooms, and fireplaces, while two units offer two bedrooms and one bathroom. All units include washer/dryer hookups. Recent improvements include new roofs and siding installed on all buildings. The property benefits from its location in Booker, TX, a community served by a major employer, Preferred Beef Processing. This multifamily investment presents a strong potential for return, given its attractive cap rate, recent renovations, and stable occupancy in a growing area. The property was previously appraised at $1,000,000 five years ago, prior to the recent upgrades. This offering includes two separate complexes, but the seller is willing to sell them individually for $500,000 each. This presents a unique opportunity to acquire a profitable multifamily investment in a desirable location.

    Property Features for 6 Main St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built/Renovated
    1980/2
    Buildings
    4
    Stories
    2
    Units
    24

    HighLights

    • $950,000 asking price for a 24‑unit multifamily apartment building portfolio.
    • 8.20% cap rate.
    • 24 units total, comprised of twenty‑two 2‑bedroom/1.5‑bathroom units with fireplaces and two 2‑bedroom/1‑bathroom units.
    • Four buildings, two stories each, built in 1980, with renovations completed within the last two years.
    • Located in Booker, TX, 79005, near Preferred Beef Processing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Law Firm Building Supply Hair Salon Wholesale Shop Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Booker
    County
    Lipscomb
    State
    Texas
    Longitude
    -100.53879740678
    Latitude
    36.45650005724

    Nearby Comparable

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    Nearby Similar for Sale

    • $950,000

      Booker, TX Apartment Complex Investment

      Two apartment complexes with twenty-four units in Booker, TX.
      6 Gatewood Dr, Booker, TX 79005
      View Details
    • $99,000
      9,656 SF

      Booker, TX Commercial Building

      Versatile Commercial Space, Great Location
      9 1 Ave, Booker, TX 79005
      View Details

    FAQs

    What type of property is this?
    Multifamily property - 24-Unit Multifamily Investment Opportunity
    Where is this multifamily property located?
    The property is located at 6 Main St Booker, TX.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: $950,000 asking price for a 24-unit multifamily apartment building portfolio.; 8.20% cap rate.; 24 units total, comprised of twenty-two 2-bedroom/1.5-bathroom units with fireplaces and two 2-bedroom/1-bathroom units.
    Request Owner's contact information
    6 Main St Booker, TX 79005
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    Booker, TX 79005
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    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.

    More about this property
    6 Main St Booker, TX 79005
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