301 Wall St Shamrock, TX 79079
- Apartment buildings
- 6,440 SF
Current Use by Public Records
- Apartment buildings
Property Details for 301 Wall St
- Year built
- 1940
- Property size
- 6,440 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a six-unit apartment building located at 301 N Wall St, Shamrock, TX 79079. The property, built in 1940, boasts a total of 6,440 square feet and is comprised of one two-story building. The unit mix includes five two-bedroom, one-bathroom units and one one-bedroom, one-bathroom unit. Each unit features central heating and air conditioning, along with convenient washer and dryer hookups. Currently generating a Net Operating Income (NOI) of $29,599, the property offers a compelling 13.16% capitalization rate. However, with potential for rent increases, a pro-forma NOI of $35,899 and a pro-forma cap rate of 15.96% is achievable. The asking price is $225,000, translating to $37,500 per unit. This Class C multifamily property presents a significant value-add opportunity in the Wheeler County market. The property's location in Shamrock, Texas provides a stable foundation for a strong return on investment. This is a rare chance to acquire a well-positioned apartment complex with significant upside potential. The current rents are below market, offering immediate opportunities to increase cash flow.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Shamrock
- County
- Wheeler
- State
- Texas
- Longitude
- -100.251
- Latitude
- 35.2167
