Heritage Apartments

200 North Bryan Street, Borger, TX

17.87% return

SP: $475,000

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Property Description

Great investment opportunity. 14 units for sale in Texas. Amazing returns on investment. Separate electric meters. Solid construction. Central heat and air. Great curb appeal. No deferred maintenance is required. Professional property management is available. Borger, TX is a booming industrial area with plants from companies like Chevron-Phillips, Agrium, Sid Richardson and so on.

Property Information

Listing statusSold
Property typeMulti Family
Total units14
Total bedrooms27
Total bathrooms14
Building size61481 sq. ft.
Lot size0.3 acres
Year built1961

CountyHutchinson County
SubdivisionTHOMPSON 02420
ConstructionBrick/Frame
RoofBUILT UP/COMPOSITION - FLAT
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$475,000
Estimated rehab¹$0
Total investment$475,000

TypeProforma

Gross income (annually)$124,800
Operating expenses (annually)$39,900
Net income (annually)$84,900
Gross return26.27%

Gross income (monthly)$10,400
Operating expenses (monthly)$3,325
Net income (monthly)$7,075
Net return17.87%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 1 bed / 1 bath$650/month$7,800/year
Unit 2: 2 bed / 1 bath$750/month$9,000/year
Unit 3: 2 bed / 1 bath$750/month$9,000/year
Unit 4: 2 bed / 1 bath$750/month$9,000/year
Unit 5: 2 bed / 1 bath$750/month$9,000/year
Unit 6: 2 bed / 1 bath$750/month$9,000/year
Unit 7: 2 bed / 1 bath$750/month$9,000/year
Unit 8: 2 bed / 1 bath$750/month$9,000/year
Unit 9: 2 bed / 1 bath$750/month$9,000/year
Unit 10: 2 bed / 1 bath$750/month$9,000/year
Unit 11: 2 bed / 1 bath$750/month$9,000/year
Unit 12: 2 bed / 1 bath$750/month$9,000/year
Unit 13: 2 bed / 1 bath$750/month$9,000/year
Unit 14: 2 bed / 1 bath$750/month$9,000/year
Total$10,400/month$124,800/year

Expenses

Property Taxes$275/month$3,300/year
Lawn care$83/month$1,000/year
Insurance$400/month$4,800/year
Maintenance reserve$667/month$8,000/year
Water and Sewer$500/month$6,000/year
Electric bill$1,400/month$16,800/year
Total$3,325/month$39,900/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.