216 S Devine Street

    Stephenville, TX 76401
    • $575,000
    • STATUS: Active
    • ON SITE: 44 days
    • MLS #: 14176300
    UPDATED: 36 min ago
    $575,000
    • 12
      BEDS
    • 0.25
      ACRES
    • 10
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1920
    County:
    Area:

    School Information

    High School:
    School District:
    Offered by Roger Smeltzer of Vision Commercial Real Estate.

    Description

    Vision Commercial Real Estate is pleased to present the opportunity to acquire 216 S. Devine Street, located less than one mile from Tarleton State University. Originally built as a Single-Family dwelling in 1920, the property was converted to a 10-unit apartment complex in the mid 1980s. Each residential unit is equipped with their own electric meter, PTAC cooling system, and individual hot water heaters. The property is currently stabilized at 100% occupancy, with current rents averaging $75-$100 below market comps. This asset provides an investor with positive cash-flow from day-one along with the ability to substantially increase the NOI through continuing interior renovations.

    Monthly Payment Calculator



    © 2019 North Texas Real Estate Information Systems. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Tenesha Lusk Realty Group | Keller Williams. The data relating to real estate for sale or lease on this web site comes in part from NTREIS. Real estate listings held by brokerage firms other than Tenesha Lusk Realty Group | Keller Williams are marked with the NTREIS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2019-10-18T21:41:12.93.
    www.dfwpropertyforsale.com/homes/98593880

    216 S Devine Street Stephenville, TX 76401

    • Price: $575,000
    • Status: Active
    • Updated: 36 min ago
    • MLS #: 14176300
    12
    Beds
    10
    Baths
    0
    ½ Baths
    0.25
    Acres
    1920
    Built
    Neighborhood:
    City Add
    County:
    Erath
    Area:
    Erath County
    High School:
    Stephenvil
    School District:
    Stephenville ISD
    Property Description
    Vision Commercial Real Estate is pleased to present the opportunity to acquire 216 S. Devine Street, located less than one mile from Tarleton State University. Originally built as a Single-Family dwelling in 1920, the property was converted to a 10-unit apartment complex in the mid 1980s. Each residential unit is equipped with their own electric meter, PTAC cooling system, and individual hot water heaters. The property is currently stabilized at 100% occupancy, with current rents averaging $75-$100 below market comps. This asset provides an investor with positive cash-flow from day-one along with the ability to substantially increase the NOI through continuing interior renovations.
    Exterior Features

    Construction Frame/Brick TrimWood Foundation Pier & Beam Parking Or Garage Common Lot Parking Spaces 14 Pool On Property No Roof Metal

    Interior Features

    Handicap YN No Heating Panel/Floor/WallWindow Unit Interior Features Cable Tv Available Kitchen Equipment Cooktop - ElectricDishwasherDisposalOven-ElectricRefrigerator Sq Ft Building 5400

    Property Features

    Building Area Source Tax Buildings 1 Complex Name 216 Devine Construction Status Preowned Gross Annual Expenses 20426 Gross Annual Income 55000 HOA None Insurance Expense 2600 Intermediate School Gilbert Junior High School Stephenvil Municipal Utility District No Net Annual Income 34000 Possession 30-60 Days Property Type Mul-Apartment/5Plex+ Proposed Financing Cash Unexempt Taxes 6622 Unit Count 2 Utilities City SewerCity WaterMaster Gas MeterMaster Water Meter Will Subdivide No

    Listing information © 2019 North Texas Real Estate Information System.


    © 2019 North Texas Real Estate Information Systems. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Tenesha Lusk Realty Group | Keller Williams. The data relating to real estate for sale or lease on this web site comes in part from NTREIS. Real estate listings held by brokerage firms other than Tenesha Lusk Realty Group | Keller Williams are marked with the NTREIS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2019-10-18T21:41:12.93.
     
    Tenesha Lusk Realty Group | Keller Williams
    3600 Preston Rd
    Plano TX, 75093
    Offered by Roger Smeltzer of Vision Commercial Real Estate.