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515 Colorado 6 Unit Apartment Building $780,000 ($130,000/Unit) 7.13% Cap Rate Burton, TX 77835
INVESTMENT HIGHLIGHTS
- Great occupancy
- Good income producing property
EXECUTIVE SUMMARY
Excellent opportunity for residential income producing property in small town Texas! Rare chance to own 1.3 acres in the middle of town. Located in the historic town of Burton, TX, halfway between Houston and Austin in the rolling hills of Washington County. Property is historic itself in that the building was built in 1914 as Burton’s public school and afterwards became a home for senior citizens. Building has been lovingly maintained over the years and transitioned to the town’s only apartment property. Currently set up with One bedroom and Two-bedroom units- 6 units in the building, as well 2 cottages on the property. Property has on site washer/dryer facilities for tenant’s use. Units have excellent occupancy rates, 2% vacancy over last two years and a 7.13% cap rate.
PROPERTY FACTS
| Price | $780,000 | Apartment Style | Low-Rise |
| Price Per Unit | $130,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.22 AC |
| Cap Rate | 7.13% | Building Size | 5,663 SF |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1914 |
| Property Subtype | Apartment | ||
| Zoning | C | ||
| Price | $780,000 |
| Price Per Unit | $130,000 |
| Sale Type | Investment |
| Cap Rate | 7.13% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.22 AC |
| Building Size | 5,663 SF |
| No. Stories | 1 |
| Year Built | 1914 |
| Zoning | C |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 790 - 850 |
| 2+1 | 2 | - | 950 - 1,005 |
1 1
PROPERTY TAXES
| Parcel Number | 7500-065-06400 | Improvements Assessment | $368,850 |
| Land Assessment | $91,700 | Total Assessment | $460,550 |
PROPERTY TAXES
Parcel Number
7500-065-06400
Land Assessment
$91,700
Improvements Assessment
$368,850
Total Assessment
$460,550
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515 Colorado
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