Current Use by Public Records
- Apartment buildings
Property Details for 6 Main St
- Year built
- 1980
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a well-maintained 24-unit apartment complex in Booker, Texas, ideally situated at 6 N Main St and 56 Gatewood Dr, zip code 79005. The property comprises four two-story buildings, constructed in 1980 and renovated two years ago, offering a compelling 8.20% cap rate at an asking price of $950,000. The complex features a mix of unit configurations: twenty-two units boast two bedrooms, one and a half bathrooms, and fireplaces, while two units offer two bedrooms and one bathroom. All units include washer/dryer hookups. Recent improvements include new roofs and siding installed on all buildings. The property benefits from its location in Booker, TX, a community served by a major employer, Preferred Beef Processing. This multifamily investment presents a strong potential for return, given its attractive cap rate, recent renovations, and stable occupancy in a growing area. The property was previously appraised at $1,000,000 five years ago, prior to the recent upgrades. This offering includes two separate complexes, but the seller is willing to sell them individually for $500,000 each. This presents a unique opportunity to acquire a profitable multifamily investment in a desirable location.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Booker
- County
- Lipscomb
- State
- Texas
- Longitude
- -100.539
- Latitude
- 36.4565
