1701 Us 180 Mineral Wells, TX 76067

Property Details for 1701 Us 180

Year built

2005

Property type

Apartment buildings

Description

This exceptional 72-unit Class A apartment building presents a compelling investment opportunity in the thriving Texas market. Located at 1701 US 180 in Mineral Wells, Palo Pinto County, Texas (zip code 76067), this fee-simple property boasts 72,064 square feet of net rentable space and was constructed in 2005. The property offers a diverse mix of one, two, and three-bedroom apartment homes, catering to a wide range of renters. With a current asking price of $3,360,000, this translates to a price per unit of $46,667. The property's strong performance is reflected in its pro-forma NOI of $205,914 and a pro-forma cap rate of 6.13%. Situated conveniently just west of the Dallas/Fort Worth metroplex, this asset benefits from its location in Mineral Wells, one of nine states without an income tax, making it an attractive location for residents and investors alike. The property's 2005 construction ensures modern amenities and efficient operation, contributing to its stable occupancy and strong financial performance. This stabilized asset represents a rare opportunity to acquire a high-quality multifamily property in a rapidly growing market. The property's strong financials, combined with its desirable location and modern construction, make it an ideal investment for discerning buyers seeking a stable and appreciating asset in the Texas real estate market. This is a turnkey opportunity to acquire a well-maintained and profitable apartment complex.