1186 Oregon Avenue, Beaumont, TX
9.66% return
LP:
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Property Description

6 Units In TX This Property Is Next To Lamar University, One Of The Finest Public Schools In The State. Only An Hour And A Half Away From Houston,TX, This City Has High Income And High Population Growth. City Of Beaumont Home Of The South Texas State Fair And Rodeo. High Cap Rates Are Easily Achievable. Tons Of Industry And High Per Capital Income. There Are No State Income Tax Along With Great Real Estate Laws. Separate Electric Meters. Perfect Value Add Opportunity. Private Financing Is Also Available. Professional Property Management Is Available. Great For An Out Of State Investor! Building Can Be Purchased In A Package.

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units6
  • Total bedrooms0
  • Total bathrooms6
  • Building size2340 sq. ft.
  • Lot size0.2 acres
  • Year built1968
  • CountyJefferson County
  • SubdivisionLAMAR
  • ConstructionFrame
  • Roof
  • Water sourceCity
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C

Property Financial Summary

  • Asking price $168,000
  • Estimated rehab 1 $12,500
  • Total investment $180,500
  • Type Proforma
  • After repair value $192,000
  • Potential profit $11,500
  • Gross income (annually) $28,800
  • Operating expenses (annually) $11,368
  • Net income (annually) $17,432
  • Gross return 15.96%
  • Gross income (monthly) $2,400
  • Operating expenses (monthly) $947
  • Net income (monthly) $1,453
  • Net return 9.66%

Property Income & Expenses

  • Income
  • Unit 1: studio / 1 bath $400/month $4,800/year
  • Unit 2: studio / 1 bath $400/month $4,800/year
  • Unit 3: studio / 1 bath $400/month $4,800/year
  • Unit 4: studio / 1 bath $400/month $4,800/year
  • Unit 5: studio / 1 bath $400/month $4,800/year
  • Unit 6: studio / 1 bath $400/month $4,800/year
  • Total $2,400/month $28,800/year
  • Expenses
  • Property Taxes $187/month $2,249/year
  • Insurance $60/month $719/year
  • Water and Sewer $300/month $3,600/year
  • Maintenance reserve $400/month $4,800/year
  • Total $947/month $11,368/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.

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