Current Use by Public Records
- Land
Property Details for 420 Martin Luther King Dr
- Year built
- 2007
- Lot size
- 4.00 lot acres
- Property type
- Land
- Property subtype
- Apartment buildings
Description
This exceptional investment opportunity presents a 5,640 square foot multifamily property situated on approximately four acres in Mexia, Texas. Built in 2007, the property currently comprises four rental units: two manufactured homes (each 750 square feet), one manufactured home (1,116 square feet), and one manufactured home (1,824 square feet). In addition to the residential units, there is a 480 square foot cabin, a 1,200 square foot metal building, a 400 square foot three-sided metal carport, and a single portable metal carport. All existing manufactured homes were relocated and remodeled. The property offers significant upside potential for increased income through the addition of more manufactured homes or, with county approval, RV camper sites. The ample land provides room for expansion, and the property is currently undergoing a survey to confirm the approximate four-acre lot size. This property is located at 420 Martin Luther King Drive, Mexia, TX 76667. The asking price is $389,900.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mexia
- County
- Limestone
- State
- Texas
- Longitude
- -96.4926
- Latitude
- 31.6843
