Property Details

PROPERTY DESCRIPTION This investment property is a great way to add to, or start your Real Estate Investment Portfolio. This property is apart of a Portfolio sale. On the Ease side of IH-35 on Water Lane and Morningside Drive. This is a very fast growing community. Easy access to IH-35 leading to Austin and San Antonio. The property is just as close to FM 1044 Leading from New Braunfels to Seguin. Also residing near the corner of IH-35 and Loop 337 OFFERING SUMMARY Sale Price: $374,000 Number of Units: 2 Lot Size: 0.195 Acres Building Size: 2,058 SF NOI: $19,967.47 Cap Rate: 5.33% PROPERTY HIGHLIGHTS Investment Property Fully Occupied Rent Bumps Possible One New AC Unit New Dimensional Shingle Roof Near IH-35 & Loop 337 CURRENT RATE: CAP RATE 5.33% GRM 14.63 MARKET RATE: CAP RATE 9.03% GRM 9.44 Rent Rate 325 2/2: $1,040.00 Rent Rate 327 2/2: $1,090.00 TOTAL RENT RATES: $2,130.00