900 Broadway is a 16 unit apartment building in downtown Plainview, TX. This also includes a small office building and vacant land between the two properties. Currently, only the first floor of the apartment building is occupied. With a $65,000 renovation budget, you should be able to complete the 2nd story and get the office updated so that you'll have an extra 9 units of rental income.
Key Points: 16 unit apartment building + lot + small office building Renovation opportunity Stabilized post renovation proforma cash on cash return of 14.64%
Asking Price: $285,000
Building Size: 8,400 SQ FT
Lot Size: 17424
Cost per Square Foot: $33.93