Saulsbury Dr Portfolio

03-11-2023
03-19-2023

2306 Saulsbury Dr, Temple, TX 76504

Value add, multi-family property with well below-market rents.

Four 8-unit apartment buildings.

Great unit mix. 24 x 2BR/2BA, 7 x 1BR/1BA and office

Trust sale.

Great location right off I-35

 

Property Description

32-unit, value add, multi-family property in Temple, Texas 30 miles from Fort Hood. Great location right off I-35 with easy access to Austin and Waco. Four 8-unit buildings totaling 32,660 square feet on 1.2 acres of land. Great unit mix with 24 X 2BR/2BA and 7 X 1BR/1BA apartments plus an office that could potentially be converted to another unit. Most units have laundry hookups. Current rents are well below market. The property is co-listed with Jim Switzer, Colt Real Estate Group LLC in Killeen, TX

  • 2306 Saulsbury Dr, Temple, TX 76504 (Bell County, Property Tax ID 78598)
  • 2310 Saulsbury Dr, Temple, TX 76504 (Bell County, Property Tax ID 78599)
  • 2402 Saulsbury Dr, Temple, TX 76504 (Bell County, Property Tax ID 78600)
  • 2406 Saulsbury Dr, Temple, TX 76504 (Bell County, Property Tax ID 78668)

Key Property Information

Listing Status
Available
Multifamily type
Low-Rise
Price
$ 2,300,000
No. of Units
32
Cap Rate
4.22%
Average Occupancy
97%
Year Built
1984
Building Size
32,660 Sq ft
Lot Size
51,600.00 sq ft
No. of Stories
2
APN
78598, 78599, 78600, 78668
No. of Parking Spots
54
Opportunity Zone
No
Price per unit
$ 71,875

Financial Details

Income/Expense Info
Actual
Financial Year
2022
Gross Income
$ 225,420
Effective Gross Income
$ 218,657
Operating Expenses
$ 121,648
Net Operating Income
$ 97,010
Pre-tax Cashflow
$ 97,010
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