2001 20Th St Hooks, TX 75561
- Apartment buildings
- 4,075 SF
- 0.25 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 2001 20Th St
- Year built
- 1982
- Lot size
- 0.25 lot acres
- Property size
- 4,075 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a fully occupied, 10-unit apartment building located at 2001 E 20th St, Hooks, TX 75561. The property, situated on a 0.25-acre lot, features a total of 4,075 square feet of net rentable space, with each unit priced at $60,000. Built in 1982 and extensively renovated in 2022, this Class B multifamily property boasts a 100% occupancy rate, generating a substantial net operating income (NOI) of $61,140, resulting in a compelling 10.19% cap rate. The asking price is $600,000, translating to $147.24 per square foot. The two-story building offers a stable investment with low maintenance costs, thanks to the recent renovations. Its prime location at the corner of Hwy 82 & East 20th Street benefits from the area's robust employment opportunities. The property's strong financial performance, coupled with its recent upgrades and high occupancy, makes it an attractive addition to any real estate portfolio. The property is offered fee simple and the APN is 09620005400. This is a stabilized investment, offering immediate cash flow and long-term growth potential in a thriving Texas community.
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
- Hooks
- County
- Bowie
- State
- Texas
- Longitude
- -94.2674
- Latitude
- 33.4668
