About This Home
This 0-bedroom, 0-bathroom commercial at 501 Plaza Drive in Slaton, TX is listed for $1,200,000 ($54 per sqft). Built in 1966, the home offers 22,368 sqft of living space on a 0.12 acres lot.
Key Features
- Built in 1966
- 0.12 acre lot
Property Details
The Plaza is a 24 unit apartment community made up of 12 one story duplexes. They are all 2 Bed / 1 Bath units, with washer/dryer connections in each unit. They have strong current occupancy and there is room for rent increases. Property manager says they haven't raised rents in 5 years.
Rents are about $135 below the 2 bedroom units in the apartment complex nearby. There is also an opportunity to reduce the utility costs and start billing back the water to the residents. The current water bill is about 2 times higher than the expense comps we have for the area. Good operational improvements will drive higher returns for the new owner.
Monthly Cost Estimate
$6,418/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
501 Plaza Drive
Slaton, TX 79364
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 501 Plaza Drive is listed at $1,200,000 ($54/sqft). The estimated monthly payment is $6,418 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1966, 0.12 acre lot.
This property is listed by Gregory Brownd and can be reached at 8067774459.