Centerville Apartments | 130 Town St
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Centerville Apartments 130 Town St
16 Unit Apartment Building $1,199,000 ($74,938/Unit) 8.52% Cap Rate Centerville, TX 75833
INVESTMENT HIGHLIGHTS
- Proven proforma - 2 units already at market rent
- 2013 and 1988 build years
- So many opportunities to add value beyond what's stated the proforma!
- Low to no competition confirmed by 100% occupancy
- Plus $230k in recent renovations
EXECUTIVE SUMMARY
Discover this one-of-a-kind investment opportunity in the Texas triangle with this recently renovated 16-unit complex boasting aggressive cap rate and price per door! $230k in renovations between 2018-2024, and the property still allows for multiple value add opportunities!
The property boasts two main buildings - 2013 build and 1988 build - with 8 units each, plus a freestanding clubhouse & laundry room, 32-car parking lot, a slab where 8 more units can be built, and 1.05 acre lot providing plenty of room for expansion. All units are identical 2 bed/1 bath with functional floorplan, allowing for easier management.
The property has almost no competition in Centerville and is 100% occupied as a result! It is professionally managed and has great long-term tenants in place.
Finally, this property boasts effective tax rate of only 0.55% (based on the tax current tax appraised value).
The property boasts two main buildings - 2013 build and 1988 build - with 8 units each, plus a freestanding clubhouse & laundry room, 32-car parking lot, a slab where 8 more units can be built, and 1.05 acre lot providing plenty of room for expansion. All units are identical 2 bed/1 bath with functional floorplan, allowing for easier management.
The property has almost no competition in Centerville and is 100% occupied as a result! It is professionally managed and has great long-term tenants in place.
Finally, this property boasts effective tax rate of only 0.55% (based on the tax current tax appraised value).
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$138,240
|
$13.46
|
| Other Income |
$3,665
|
$0.36
|
| Vacancy Loss |
$6,912
|
$0.67
|
| Effective Gross Income |
$134,993
|
$13.15
|
| Taxes |
$6,477
|
$0.63
|
| Operating Expenses |
$26,353
|
$2.57
|
| Total Expenses |
$32,830
|
$3.20
|
| Net Operating Income |
$102,163
|
$9.95
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $138,240 |
| Annual Per SF | $13.46 |
| Other Income | |
|---|---|
| Annual | $3,665 |
| Annual Per SF | $0.36 |
| Vacancy Loss | |
|---|---|
| Annual | $6,912 |
| Annual Per SF | $0.67 |
| Effective Gross Income | |
|---|---|
| Annual | $134,993 |
| Annual Per SF | $13.15 |
| Taxes | |
|---|---|
| Annual | $6,477 |
| Annual Per SF | $0.63 |
| Operating Expenses | |
|---|---|
| Annual | $26,353 |
| Annual Per SF | $2.57 |
| Total Expenses | |
|---|---|
| Annual | $32,830 |
| Annual Per SF | $3.20 |
| Net Operating Income | |
|---|---|
| Annual | $102,163 |
| Annual Per SF | $9.95 |
PROPERTY FACTS
| Price | $1,199,000 | Apartment Style | Low Rise |
| Price Per Unit | $74,938 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.05 AC |
| Cap Rate | 8.52% | Building Size | 10,544 SF |
| Gross Rent Multiplier | 8.7 | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 2013/2022 |
| Property Subtype | Apartment | Parking Ratio | 3.03/1,000 SF |
| Price | $1,199,000 |
| Price Per Unit | $74,938 |
| Sale Type | Investment |
| Cap Rate | 8.52% |
| Gross Rent Multiplier | 8.7 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.05 AC |
| Building Size | 10,544 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 2013/2022 |
| Parking Ratio | 3.03/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 16 | $720.00 | 937 |
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PROPERTY TAXES
| Parcel Number | 07300-08600-00200-000000 | Total Assessment | $332,310 (2024) |
| Land Assessment | $6,000 (2024) | Annual Taxes | $6,477 ($0.61/SF) |
| Improvements Assessment | $326,310 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
07300-08600-00200-000000
Land Assessment
$6,000 (2024)
Improvements Assessment
$326,310 (2024)
Total Assessment
$332,310 (2024)
Annual Taxes
$6,477 ($0.61/SF)
Tax Year
2025
ZONING
| Zoning Code | B1-Apartments (Apartments) |
| B1-Apartments (Apartments) |
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Centerville Apartments | 130 Town St
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