20333 Fm 2493 Bullard, TX 75757
- Residential income homes
- 9,679 SF
- 1.51 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 20333 Fm 2493
- Lot size
- 1.51 lot acres
- Property size
- 9,679 SF
- Property type
- Residential income homes
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bullard
- County
- Smith
- State
- Texas
- Longitude
- -95.3442204
- Latitude
- 32.1844172
