1015 Crockett St Crystal City, TX 78839
- Commercial real estate
Current Use by Public Records
- Villa Hermosa Apartments / Apartment Building
Property Details for 1015 Crockett St
- Year built
- 2004
- Property type
- Commercial real estate
Description
This exceptional Class A apartment building, Villa Hermosa LIHTC, presents a compelling investment opportunity in the thriving Crystal City, Texas market. Built in 2004, this two-story complex boasts 60 units totaling 60,674 net rentable square feet, offering a compelling mix of one and two-bedroom apartment homes. The property is situated at 1015 E Crockett St, Crystal City, TX 78839, placing it in a prime location within the city. Currently priced at $3,465,000 ($57,750 per unit), this fee-simple ownership offers a pro-forma cap rate of 5.60% and a pro-forma net operating income (NOI) of $193,948. The existing housing contract is set to expire in 2024, presenting potential for future income growth. This stabilized asset benefits from its location in Texas, one of nine states without income tax, making it an attractive investment in a booming market. The property's strong performance metrics and favorable location make it an ideal addition to any multifamily portfolio. The building's 2004 construction ensures a relatively modern structure with potential for long-term value appreciation. Investors will appreciate the opportunity to acquire a well-maintained, income-producing asset in a growing Texas community. This is a rare chance to secure a significant foothold in the Texas multifamily market.
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
- Crystal City
- County
- Zavala
- State
- Texas
- Longitude
- -99.8213864
- Latitude
- 28.6888891
