Property Details

• Price: $499,500
• Status: Active
• Property Type: Commercial
• Square Feet: 10,707

Description

Rare Value Add Opportunity in Temple Texas This is an 11 unit multifamily with ~9000 square feet of rentable space (~10500 total building square footage). Projected Income of $13,500 a month (at 1.5 psf) or $162,000 annually. Projected expenses: $40,000 annually NOI: $122,000 Renovated Valuation of $1,876k at a 6.5% cap rate *Attractive Seller Financing Option Available (with 20% downpayment) - Preliminary Renovations Budget of $400-500k INVESTOR ALERT -- PRIME COMMERCIAL OPPORTUNITY IN TEMPLE, TX! Fix it. Flip it. Reimagine it. This is the kind of diamond in the rough that seasoned investors dream about! Located just off Adams Avenue and minutes from Baylor Scott & White, this versatile commercial property is packed with potential and poised for transformation. Main Building: Approx. 10,707 sq. ft. -- a solid shell ready for your vision Additional Structures: A 2-bedroom frame home, former laundry building, and garage/storage area The property is zoned commercial and was previously used as an independent living facility, but the possibilities are wide open: Multi-tenant office space Assisted living or residential rehab facility Boutique lodging or studio space Storage and service-oriented business All buildings are sold AS IS -- yes, they need extensive rehab, but this is your blank canvas. MOTIVATED SELLER -- Extremely negotiable on cash offers, outside financing AND open to OWNER FINANCING! Don't wait. With Temple's ongoing growth and proximity to major employers, this is the kind of opportunity that won't sit long. Call today to schedule a walkthrough and make your offer before someone else grabs this hidden gem!

Features

• County: Bell
• Subdivision: Moores Knight
• Directions: Hwy 190 ( I 14) East, Take exit 301 , (53 Texas, FM2305), Right on Central Ave, Right on S 33rd St. Red brick structure
• Heating: None
• Cooling: None
• Floors: Concrete
• Disabled Features: None
• Stories: 1
• Construction/Exterior: Brick Veneer
• Foundation: Pillar/Post/Pier, Slab
• Possession: Closing & Funding, Closing
• Water / Sewer: Public Sewer
• Parking Description: Parking Space(s)
• Lot Size in Acres: 0.482
• Water Body: None
• Has Waterfront: No
• Has View: No
• View: None
• Is One Story: Yes
• Other Utilities: Electricity Available
• Property Type: COM
• Property SubType: Commercial
• Property SubType 2: Commercial Sale
• Year Built: 1948
• Status: Active
• Amenities: None
• Square Feet Source: Appraiser

Location

Address: 111 S 33rd Street Temple, TX 76504

City: Temple, TX 76504