🔥 1% Rent Rule Triplex or Great Flip! 🔥

Lee County, Giddings, TX, 78942
Sold
Listed at: September 3rd, 2021
Price
$174,000
ARV
$399,000
Gross Margin
$225,000
Sq. Footage
3008
Type
Multifamily
Parking
Driveway
Year build
1936
Lot size
0.40 acres
Bedrooms
8
Bathrooms
5
Half Bathrooms
0
Summary

615 E Washington St, Giddings, TX 78942

Tri-plex + Mobile Home (all on same property)

Building Size (sqft): 3,008 sqft (just the tri-plex)

Beds / Baths

  • Tri-plex: 6 beds, 4 baths (total)
  • Mobile Home: 2 beds, 1 bath

Year Built: 1936 (tri-plex)

Lot Size (acres): 0.4 acres


Rents:

Unit A - Triplex

  • 1 bed, 1 bath
  • Current Monthly Rent: $372/month
  • Market Rent: ~$600/month
  • Lease End: Month-to-month
  • Tenant Pays All Utilities?: Tenants pay all utilities except water

Unit B - Triplex

  • 2 beds, 1 bath
  • Current Monthly Rent: $472/month
  • Market Rent: ~$750/month
  • Lease End: Month-to-month
  • Tenant Pays All Utilities?: Tenants pay all utilities except water

Unit C - Triplex

  • 3 beds, 2 baths
  • Current Monthly Rent: $522/month
  • Market Rent: ~$850/month
  • Lease End: Month-to-month
  • Tenant Pays All Utilities?: Tenants pay all utilities except water

Unit D - Mobile Home

  • 2 beds, 1 bath
  • Current Monthly Rent: $372/month
  • Market Rent: ~$750/month
  • Lease End: Month-to-month
  • Tenant Pays All Utilities?: Tenants pay all utilities except water

Total Current Monthly Rent: $1,738

Total Potential Monthly Rent: $2,950


Comps:

266 Monroe St

  • 3,149 sqft
  • SOLD $375,000; 4-15-21

493 N Orange St

  • 2,136 sqft
  • SOLD $248,000; 5-7-21


Property Condition - Triplex

  • Condition of Roof: Great
  • Age of Roof: Replaced in 2017
  • HVAC's are 2 to 3 years old
  • The current owner has owned the property for many years and has taken great care of it.

Property Condition - Mobile Home

  • The mobile home has had many recent updates to it.
  • Newer roof.
  • Newer A/C (central)




Asking price: $174,000


Closing Date:

9-17-21 or sooner



Call or text Holly for more details on this 🌋HOT DEAL!🌋 (210) 861-0922

  • Click the BUY IT NOW button to lock this one down and avoid bidding wars ⚔️⚔️


DISCLAIMER: This is an assignment of contract. A legally binding purchase & sale contract has been signed giving this company exclusive rights to purchase the property. This company does not represent the owner. We are NOT brokers and do not represent ourselves as such. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or make contact with the owner will result in legal action.
Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact

Genevieve Gorgos

No reviews

Disposition manager