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Hillsboro Oaks Apartments 208 N Church St 20 Unit Apartment Building $1,395,000 ($69,750/Unit) 8.92% Cap Rate Hillsboro, TX 76645
INVESTMENT HIGHLIGHTS
- Walking distance to town square
- High occupancy
- Ample parking
- Rent growth
- Low competition in submarket
EXECUTIVE SUMMARY
Compass Commercial is pleased to present exclusively for sale the Hillsboro Oaks Apartments. Located in downtown Hillsboro, TX just two city blocks from the Hill County courthouse with easy access to I-35, and less than a 1 hour drive from Fort Worth. Acquisition of this 20 unit apartment complex presents a value add opportunity for multi family investors. 2 Bed 1 Bath (16) + 2 Bed 1.5 Bath (4) units range from approximately 750-1,000 SqFt and rent for an average of $1/SqFt plus utilities. Units were renovated in 2021 with new materials, systems and features including carpet, countertops, paint, LVP flooring, appliances, HVAC units, resurfaced parking lot and new metal roofing and siding. Please contact listing agent for non-disclosure agreement to view rent roll and expenses.
Contact listing broker for all due diligence.
Contact listing broker for all due diligence.
PROPERTY FACTS Under Contract
| Price | $1,395,000 | Building Class | C |
| Price Per Unit | $69,750 | Lot Size | 0.66 AC |
| Sale Type | Investment | Building Size | 15,250 SF |
| Cap Rate | 8.92% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1984 |
| Property Subtype | Apartment | Parking Ratio | 2.1/1,000 SF |
| Zoning | Commercial - MF-29 (Multifamily Residential) | ||
| Price | $1,395,000 |
| Price Per Unit | $69,750 |
| Sale Type | Investment |
| Cap Rate | 8.92% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.66 AC |
| Building Size | 15,250 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 2.1/1,000 SF |
| Zoning | Commercial - MF-29 (Multifamily Residential) |
AMENITIES
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Security System
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 16 | - | 750 |
| 2+1.5 | 4 | - | 1,000 |
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PROPERTY TAXES
| Parcel Number | 106908 | Improvements Assessment | $540,700 |
| Land Assessment | $39,350 | Total Assessment | $580,050 |
PROPERTY TAXES
Parcel Number
106908
Land Assessment
$39,350
Improvements Assessment
$540,700
Total Assessment
$580,050
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Hillsboro Oaks Apartments | 208 N Church St
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