409 Northridge dr - Apartments FOR SALE


Quitaque, TX 79255
$499,000 USD
469-240-8685
409 Northridge dr, Quitaque, TX for Sale
$499,000 USD
Apartments - FOR SALE
1/1
null | Request Cap Rate

409 Northridge dr
Quitaque, TX 79255


HIGHLIGHTS

  • Prime investment opportunity in Briscoe County.

OVERVIEW

Located at 409 Northridge Drive in Quitaque, Texas, this multi-family property comprises of two buildings totaling 7,924 square feet on 0.85 acres, and offers units made up of four 1-bedroom apartments and six 2-bedroom apartments. With a total of 10 units, rents currently range from $599 for 1-bedroom units to $799 for 2-bedroom units. The property is not located within a FEMA flood zone, ensuring added security for potential buyers. The buildings are serviced by both gas and electricity, with the seller covering water and trash services. Although the property is being sold as-is without any plans for renovation or updates, it holds significant potential, especially considering that all the units could qualify for Section 8 housing. Four of the units are currently occupied, generating $1,575 per month in rent, while four units are vacant, offering an opportunity for new tenants and increased cash flow. Currently, there is no on-site management, and the complex lacks an office, laundry area, or activity room. The complex is managed off-site by the owner's company, simplifying day-to-day operations for an investor seeking a hands-off approach. With a solid rental history and potential for further improvement, this property offers great value for anyone looking to invest in a growing community.

FOR SALE DETAILS

PRICE

$499,000 USD

PRICE/SF

$165 USD /SF

# OF UNITS

10

PRICE/UNIT

$49,900

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Homes on Northridge

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,248 SF

ZONING

-

APN/PARCEL ID

1-20-00182-00000-00000-000

ASK ABOUT THIS PROPERTY

Carmen PopeBuntingXOME Inc.More Info
469-240-8685

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Carmen PopeBuntingXOME Inc.More Info
469-240-8685

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.