112 6th St San Juan, TX 78589-2608

This exceptional investment opportunity presents a 10-unit apartment building in San Juan, Texas, boasting a strong 100% occupancy rate as of August 11, 2024. The property, located at 112 E 6th Street, comprises nine spacious one-bedroom, one-bathroom apartments and one two-bedroom, one-bathroom apartment, some partially furnished. Situated on a substantial 20,999.84 square foot lot, the single-story building totals 5,824 square feet and was constructed in 1970. The property benefits from a prime location, just one mile from Expressway 83/Highway 2 and the Basilica, offering convenient access to shopping, dining, and the new city offices, located just half a block away. The current Net Operating Income (NOI) stands at $50,000, yielding an impressive 11.11% cap rate. Pro-forma NOI is projected at $47,800, resulting in a 10.62% pro-forma cap rate. The asking price is $450,000, translating to $45,000 per unit and $77.27 per square foot. The property is zoned R-2. This multifamily investment offers significant potential for strong returns in a desirable Texas location. The property's current high occupancy rate and convenient location make it an attractive proposition for investors seeking a stable and profitable investment.