208 N Church St Hillsboro, TX 76645
- Commercial real estate
- 15,250 SF
Current Use by Public Records
- Commercial real estate
Property Details for 208 N Church St
- Year built
- 1984
- Property size
- 15,250 SF
- Property type
- Commercial real estate
- APN
- 106908
Description
This exceptional value-add multifamily investment opportunity presents a 20-unit apartment building totaling 15,250 square feet, situated at 208 Church St, Hillsboro, TX 76645. The property, built in 1984, consists of five, two-story buildings offering 32 parking spaces. Currently boasting 100% occupancy, the property generates a Net Operating Income (NOI) of $124,481, resulting in a compelling 7.78% capitalization rate. Priced at $1,600,000 ($104.92/sq ft and $80,000/unit), this Class C property presents significant upside potential. Located conveniently between Dallas-Fort Worth and Waco, with easy access to I-35, the property benefits from its proximity to the Hill County courthouse and the town square. The MF-29 (Multifamily Residential) zoning allows for various potential improvements and future development. This investment offers a rare chance to capitalize on high occupancy, low competition in the submarket, and the potential for rent growth and property appreciation. The property's APN is 106908.
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
- Hillsboro
- County
- Hill
- State
- Texas
- Longitude
- -97.127906
- Latitude
- 32.012661
