1301 Lakeland Drive

04-11-2022
04-25-2022

1301 Lakeland Dr, Liberty, TX 77575

• 5% Cap Rate
• Taxes are $32,233.00
• Fully occupied
• Rents are well below market price (over $150 less per unit)
• Class B
• Amenities include pool, laundry facilities, clubhouse, picnic area, gated, security system, and more.
• 2.1 parking spots/unit

Property Description

Gross Income:          $550,352 (2 Vacant units projected at $600 each)

Gross Expenses:       $270,939

NOI:                           $279,413

Unit Count:               72

Price Per Unit:          $73,611

Going-In Cap Rate:  5%

Built:                         1972

Renovated:               2012

 

Unit Mix:

1-bedroom, 1 bath - 40 units

2-bedroom, 2 bath - 24 units

3-bedroom, 2 bath - 8 units

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 5,750,000
No. of Units
72
Cap Rate
5%
Building Size
68,300 Sq ft
No. of Parking Spots
150
Opportunity Zone
Off
Price per unit
$ 79,861

Financial Details

Income/Expense Info
Pro Forma
Gross Income
$ 629,722
Effective Gross Income
$ 693,389
Operating Expenses
$ 262,973
Net Operating Income
$ 430,416
View broker details
Sign in to use the inquiry form

30.064393, -94.785462