700 S Mcgee Street, Borger, TX
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13.56% return
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Property Description

Awesome investment. 11 units with laundry and storage. Industrial part of Texas. Tenants consist of high income plant workers. Potential to increase rents with furnished apartments. Lots of housing demand in the area. Separate electric meters. City water and sewer. Professional property management is available. Priced for a quick sale.

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units11
  • Total bedrooms23
  • Total bathrooms11
  • Building size9889 sq. ft.
  • Lot size0.2 acres
  • Year built1970
  • CountyHutchinson County
  • Subdivision
  • ConstructionCBS
  • RoofShingle
  • Water sourceCity
  • Water disposalSewer
  • HeatingWindow Unit
  • CoolingWindow A/C

Property Financial Summary

  • Asking price $349,900
  • Estimated rehab 1 $0
  • Total investment $349,900
  • Type Proforma
  • Gross income (annually) $73,800
  • Operating expenses (annually) $26,338
  • Net income (annually) $47,462
  • Gross return 21.09%
  • Gross income (monthly) $6,150
  • Operating expenses (monthly) $2,195
  • Net income (monthly) $3,955
  • Net return 13.56%

Property Income & Expenses

  • Income
  • Unit 1: 2 bed / 1 bath $550/month $6,600/year
  • Unit 2: 2 bed / 1 bath $550/month $6,600/year
  • Unit 3: 2 bed / 1 bath $550/month $6,600/year
  • Unit 4: 2 bed / 1 bath $550/month $6,600/year
  • Unit 5: 2 bed / 1 bath $550/month $6,600/year
  • Unit 6: 2 bed / 1 bath $550/month $6,600/year
  • Unit 7: 2 bed / 1 bath $550/month $6,600/year
  • Unit 8: 2 bed / 1 bath $550/month $6,600/year
  • Unit 9: 2 bed / 1 bath $550/month $6,600/year
  • Unit 10: 2 bed / 1 bath $550/month $6,600/year
  • Unit 11: 3 bed / 1 bath $650/month $7,800/year
  • Total $6,150/month $73,800/year
  • Expenses
  • Property Taxes $378/month $4,538/year
  • Insurance $225/month $2,700/year
  • Water and Sewer $320/month $3,840/year
  • Maintenance reserve $417/month $5,000/year
  • Electric bill $60/month $720/year
  • Property Management $615/month $7,380/year
  • Gas Utility Bill $180/month $2,160/year
  • Total $2,195/month $26,338/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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