1512 3Rd St Temple, TX 76501
- Apartment buildings
- 3,372 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1512 3Rd St
- Year built
- 1977
- Property size
- 3,372 SF
- Property type
- Apartment buildings
Description
This stabilized Class C multifamily property, located at 1512 North 3rd Street, Temple, Texas 76501, presents a compelling investment opportunity. The 1977-built, two-story apartment building comprises four units, each featuring two bedrooms and one bathroom, totaling 3,372 square feet on a 7,753 square foot lot. The property boasts a current NOI of $29,610, yielding an 8% cap rate, and a pro-forma NOI of $37,290, projecting a 10% cap rate. Each unit is priced at $92,000, with two parking spaces per unit. Utilities are separately metered, with tenants responsible for payment. The property is currently 100% occupied, with an occupancy date of September 23, 2024. This turnkey investment offers a strong return and potential for future appreciation in a desirable Temple location. The asking price is $369,000, translating to $109.43 per square foot. This is a freehold ownership with no ground lease.
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
- Temple
- County
- Bell
- State
- Texas
- Longitude
- -97.3373
- Latitude
- 31.1125
