3918 Mckinney Ext La Marque, TX 77568
- Commercial real estate
- 5,804 SF
- 9,148.00 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 3918 Mckinney Ext
- Year built
- 1980
- Lot size
- 9,148.00 lot acres
- Property size
- 5,804 SF
- Property type
- Commercial real estate
Description
This stabilized, Class B multifamily investment opportunity presents a rare chance to acquire a well-maintained five-unit apartment building in La Marque, Texas. Located at 3918 McKinney ext, 77568, this property boasts a total of 5,804 square feet situated on a generous 9,148-acre lot. The two-story building, constructed in 1980 and renovated in 2022, currently enjoys 100% occupancy, generating a strong net operating income (NOI) of $47,000 and a compelling 7.90% cap rate. Priced at $595,000, this translates to an attractive price per unit of $119,000 and a price per square foot of $102.52. The property features a convenient townhome-style layout, with each unit offering the benefit of a private backyard and washer/dryer connections. Three of the five units have undergone recent renovations. This turnkey investment is ideal for those seeking a low-maintenance, high-return property, and is particularly well-suited for 1031 exchange transactions. The property's strong performance and desirable location in Galveston County make it a highly attractive proposition for discerning investors. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a growing 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
- La Marque
- County
- Galveston
- State
- Texas
- Longitude
- -94.9928996
- Latitude
- 29.3732733
