Property summary
This exceptional investment opportunity presents a six-unit apartment complex ideally situated on a 1.4-acre lot in Cumby, Texas, near Interstate Highway 30. Built in 1997, the property boasts 3,644 square feet of living space, offering a compelling 6.24% cap rate at an asking price of $750,000 ($246.98 per square foot). The complex comprises two buildings and includes twelve parking spaces. Each of the six units underwent a complete remodel less than a year ago, ensuring current tenants enjoy modern amenities and warranties on recent improvements. All units are currently occupied, generating consistent rental income. Further enhancing the property's income potential is an on-site laundry facility equipped with coin-operated machines. The property's location on a major highway provides excellent visibility and accessibility, while the expansive lot offers significant potential for future expansion, accommodating additional residential units, or even industrial or retail development. The property's location is on the E Hwy 30 Service Road between FM 275 and FM 275 S. This multifamily investment presents a rare blend of immediate income generation and substantial long-term growth potential in a rapidly developing area. The property is located approximately one hour northeast of Dallas. The legal description includes APN R000015108. The lease type is Net.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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from $99/month
Cap rate
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from $99/month
Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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