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Riso Apartments 1006 County Road 4615 4 Unit Apartment Building $695,000 ($173,750/Unit) 7.34% Cap Rate Castroville, TX 78009
INVESTMENT HIGHLIGHTS
- New Construction
- Across from The Alsatian Golf Course
- 1.03 Acre Site
EXECUTIVE SUMMARY
This 4-plex is located across the street from The Alsatian Golf Course and Ville de Alsace subdivision with large lots and high end houses. The owner has started leasing out the units but will leave one unit vacant, in case an owner-occupant comes along. This would be great for an owner occupant using FHA or VA financing for better rates and lower down payment.
The building is on a 1 acre lot so there is room for additional improvements. The units have separate electric meters and a single water meter. Come and enjoy Castroville with its Alsatian charm and history only 26 miles from San Antonio. Appliance package includes stove, refrigerator, washer and dryer.
The building is on a 1 acre lot so there is room for additional improvements. The units have separate electric meters and a single water meter. Come and enjoy Castroville with its Alsatian charm and history only 26 miles from San Antonio. Appliance package includes stove, refrigerator, washer and dryer.
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$72,000
|
$14.98
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,750
|
$0.78
|
| Effective Gross Income |
$68,250
|
$14.20
|
| Taxes |
$10,000
|
$2.08
|
| Operating Expenses |
$7,200
|
$1.50
|
| Total Expenses |
$17,200
|
$3.58
|
| Net Operating Income |
$51,050
|
$10.62
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $72,000 |
| Annual Per SF | $14.98 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,750 |
| Annual Per SF | $0.78 |
| Effective Gross Income | |
|---|---|
| Annual | $68,250 |
| Annual Per SF | $14.20 |
| Taxes | |
|---|---|
| Annual | $10,000 |
| Annual Per SF | $2.08 |
| Operating Expenses | |
|---|---|
| Annual | $7,200 |
| Annual Per SF | $1.50 |
| Total Expenses | |
|---|---|
| Annual | $17,200 |
| Annual Per SF | $3.58 |
| Net Operating Income | |
|---|---|
| Annual | $51,050 |
| Annual Per SF | $10.62 |
PROPERTY FACTS
| Price | $695,000 | Apartment Style | Low-Rise |
| Price Per Unit | $173,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.03 AC |
| Cap Rate | 7.34% | Building Size | 4,808 SF |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | ||
| Zoning | OCL - Outside City Limits | ||
| Price | $695,000 |
| Price Per Unit | $173,750 |
| Sale Type | Investment |
| Cap Rate | 7.34% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.03 AC |
| Building Size | 4,808 SF |
| No. Stories | 1 |
| Year Built | 2024 |
| Zoning | OCL - Outside City Limits |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Ceiling Fans
- Granite Countertops
- Range
- Yard
SITE AMENITIES
- Fenced Lot
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Great Metro Realty
Riso Apartments | 1006 County Road 4615
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