400 Leopard Ave Livingston, TX 77351
- Commercial real estate
- 3,400 SF
Current Use by Public Records
- Commercial real estate
Property Details for 400 Leopard Ave
- Year built
- 1970
- Property size
- 3,400 SF
- Property type
- Commercial real estate
Description
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.
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
- Livingston
- County
- Polk
- State
- Texas
- Longitude
- -94.94237248391
- Latitude
- 30.722974842227
