228 Main St Jacksonville, TX 75766
- Commercial real estate
- 4,750 SF
- 0.13 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 228 Main St
- Year built
- 1975
- Construction
- CONCRETE
- Lot size
- 0.13 lot acres
- Property size
- 4,750 SF
- Property type
- Commercial real estate
- APN
- 222688000
- APU
- 222688000
Description
This exceptional investment opportunity presents a 38-unit multifamily portfolio located at 228 S Main St, Jacksonville, TX 75766. The property comprises a mix of 33 residential units and 5 commercial units, totaling 40,556 square feet across 25 buildings. Each building is a single-story structure. The portfolio boasts a 100% occupancy rate, generating a substantial net operating income (NOI) of $311,100 annually, representing an 8.89% cap rate. The asking price is $3,499,000, translating to $92,078.95 per unit and $86.28 per square foot. The property underwent renovations in 2022. The residential units consist of 15 single-family homes and 9 duplexes. The commercial component is a 5-unit office building situated in downtown Jacksonville. This stabilized investment offers a compelling return on investment with its high occupancy, strong cash flow, and recent renovations. The property's location in Jacksonville, Texas provides a stable market for rental income. Financial records are available upon request to qualified buyers. This is a rare opportunity to acquire a well-maintained, high-performing multifamily portfolio in a desirable location.
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
- Jacksonville
- County
- Cherokee
- State
- Texas
- Longitude
- -95.2722
- Latitude
- 31.9629
- CBSA code
- 27380
- CBSA name
- JACKSONVILLE, TX MICROPOLITAN STATISTICAL AREA
