1807 Main St, Clarksville, TX 75426

Property Details for 1807 Main St

Lot size

0.72 lot acres

Property type

Commercial real estate

Description

This 10-unit apartment building in Clarksville, Texas, presents a compelling value-add opportunity for investors. Located at 1807 W Main St, this single-story, 5,600 square foot building sits on a 0.72-acre lot and is currently vacant, with an occupancy date of September 12, 2024. The property, built in 2010 and last renovated in 2010, is classified as Class C and offers significant upside potential through renovations. The asking price is $440,000, translating to $47,500 per unit and $89.62 per square foot. The pro-forma net operating income (NOI) is projected at $46,800, resulting in a 10% pro-forma capitalization rate. All 10 units require renovation, allowing for increased rental income and property value. The property's location in Clarksville offers proximity to schools, parks, and downtown amenities, ensuring consistent rental demand. The multifamily zoning permits a variety of leasing configurations, maximizing flexibility and tenant retention. This distressed asset offers a low-cost entry point for a significant return on investment in a growing market. The property's convenient location near major roadways enhances its appeal to potential renters. This is an exceptional opportunity to capitalize on the increasing demand for quality multifamily housing in Clarksville.

Location Insight

City

Clarksville

County

Red River

State

Texas

Longitude

-95.066893

Latitude

33.6102149