923 W Dallas Ave 13 Unit Apartment Building $725,000 ($55,769/Unit) 8% Cap Rate Cooper, TX 75432

Excellent income opportunity with room for improvement! This well-maintained mixed-use property has approximately 10,000 sq. ft. of multi-family and retail space on 1.4 acres located in the city of Cooper at the corner of Tenth St and W Dallas Ave (AKA Business 24). There is an 11-unit studio apartment complex that is 100% occupied with mostly long-term tenants and there is a wait list. There is a coin operated laundromat for tenants use only. There is a 0.5-acre vacant corner lot adjacent to the apartment building that can also be developed with easy access to electric, public water and sewer, natural gas and internet at the corner of W Dallas Ave and Tenth St. There is a 1,250 sq. ft. single family residence on the property that can be used as a rental that is currently owner occupied and is NOT collecting rent of approximately $1,200 for this home. There is a very charming commercial 1,765 sq. ft. retail building on the property that is currently occupied by a tenant who has a barber shop and tanning salon. The site is 16 miles to Commerce, TX, 59 miles to Rockwall, TX and 76 miles northeast of Dallas. Right now, this property sits at about a 8% + cap rate with room for improvement