400 Leopard Ave Livingston, TX 77351

This exceptional value-add opportunity presents a five-unit apartment building located at 400 Leopard Avenue, Livingston, Texas, 77351. The property, built in 1970, comprises a single-story structure encompassing 3,400 square feet on a 10,600 square foot lot. Currently featuring five two-bedroom, one-bathroom units, the building offers significant upside potential. With a current occupancy rate of 40%, the property boasts a projected net operating income (NOI) of $42,000, translating to an 8.40% cap rate and a pro-forma cap rate of 9.33%. The asking price is $450,000, or $90,000 per unit, and $132.35 per square foot. Each unit includes two parking spaces. The property is situated in a quiet residential neighborhood and benefits from proximity to public amenities. An additional lot provides an opportunity for expansion. The projected occupancy date is September 30, 2024. This is an ideal investment for those seeking to capitalize on a strong rental market and enhance property value through strategic improvements. The property is zoned NA.