203 E Baker St., Clarksville, TX 75426

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Offering 33 units at 203 E Baker Street in Clarksville, Texas for $399,000!

Possible owner financing!! Inquire with Cathy for more details!

This is a real opportunity for a savvy investor to finish a property that the owner is not able to complete. Owners have spent over 300k on renovations. There is still about 20k of cosmetics to complete the first building with 21 units.
Potential Rents
1- 3 B $600/M
3- 2 B $500/M
17- 1B $400/M
There is a building behind the main building with 12-15 units that is vacant and needs full rehab.
The Fire Marshall has requested a sprinkler system (approx. 100K) for the certificate of occupancy. This requirement is being confirmed at time of listing.

This property is in a quite rural town in the Red River County.

Financials:
Price/Unit – $12,090.91
Cap Rate – 20% (projected proforma)
Net Operating Income – $79,800 (proforma)

Property Info:
Building size: 34,000 sq. ft.
Property type: Multifamily
Property sub-type: Garden/Low-Rise
Occupancy: 0%
# of Stories: 1
Year Built: 1948
Lot Size: 96,000 sq. ft.