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1870 King David Dr 20 Unit Apartment Building $1,199,000 ($59,950/Unit) 8.10% Cap Rate Three Rivers, TX 78071
Executive Summary
Exceptional multifamily investment opportunity in the heart of Three Rivers, Texas! This 20-unit apartment complex offers both strong current performance and future upside with an 8.1% cap rate and room for rent increases. The property consists of twelve 2-bed/1-bath units and four 1-bed/1-bath units — all recently updated with central heat and air, laundry connections, and full kitchens. Exterior amenities include private parking, tenant patios or balconies, and convenient access to IH-37, ensuring steady rental demand. Priced to sell, this is an ideal opportunity for investors seeking cash flow, appreciation potential, and a turnkey asset in a growing South Texas market
Property Facts
| Price | $1,199,000 | Apartment Style | Garden |
| Price Per Unit | $59,950 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.89 AC |
| Cap Rate | 8.10% | Building Size | 15,876 SF |
| No. Units | 20 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1994 |
| Price | $1,199,000 |
| Price Per Unit | $59,950 |
| Sale Type | Investment |
| Cap Rate | 8.10% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.89 AC |
| Building Size | 15,876 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1994 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $600.00 | - |
| 2+1 | 16 | $750.00 | - |
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