$200,000
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605 N College Street Malakoff, TX 75148
3,822 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,822 sqft
Price per Sqft $52
Subdivision Skiles Add
MLS Listing ID 14734655
Sold Date 04/01/22
HOA Y/N None
Total Fin. Sqft 3822
Year Built 1976
Lot Size 0.630 Acres
Acres 0.63
Property Description
The Waller Group is proud to present the 4-unit, fourplex in Mabank, TX. Built in 1976, the property is currently achieving $7,650 in annual NOI, based upon T-2 rental income and a 50% expense ratio. New ownership, based on area rent comps, can raise rents up to $188 per unit, which is a $0.20 per sqft bump. With this bump, new ownership can achieve an annual NOI of $15,600. Additionally, there is the opportunity to raise additional income through application fees, late fees, and pet deposits or fees. Another cost saving opportunity would be through water conservation opportunities such as updates on faucets, showers, and low flow toilets, which can save up to 20% on water bills.
Location
State TX
County Henderson
Direction 1. From TX-198, turn onto E Dewey St. 2. Proceed on E Dewey St. for 0.2 miles3. Turn left onto N College St. 4. Proceed on N College St. for 0.1 miles and the destination will be on the left
Interior
Interior Features Other
Heating Central, Electric
Cooling Central Air, Electric
Appliance Other
Heat Source Central, Electric
Exterior
Utilities Available City Sewer, City Water
Roof Type Composition
Parking Type Common
Total Parking Spaces 4
Garage No
Building
Story One
Foundation Slab
Structure Type Brick,Other
Schools
Elementary Schools Malakoff
Middle Schools Malakoff
High Schools Malakoff
School District Malakoff Isd
Others
Ownership Waller Group, LLC
Financing Other
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Bought with Brittany Ballard • eXp Realty LLC