$275,000
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2,000 SqFt
SOLD DATE : 05/09/2023
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,000 sqft
Price per Sqft $132
Subdivision Lake Bastrop Estates Un 1
MLS Listing ID 3948600
Sold Date 05/09/23
Originating Board actris
Year Built 2001
Tax Year 2022
Lot Size 0.890 Acres
Property Description
2 manufactured homes (1 perfected real estate which is 2001 year and back unit is 1984) rented out with good long-term tenants. Almost 15% Cap rate (gross annual rent vs. purchase price) and 13.5% Net cap rate at this sales price 275k. I can email 2022 numbers.
Virtually all furniture/appliances/TV's convey. Tenants in place. Take ownership and enjoy with minimal effort! 0.8 acres with beautiful pine trees. Partial flood plain in back but will never, ever flood with deep ravine there (which is also wooded and pretty). Flood map is not fair representation of reality.
Only complication is septic is shared with 372 Plum St which I own also - willing to sell all 4 lots for $790k (original listing was all 4 lots hence price drop is so big), or have a written agreement to allow continued use of septic. I do have permits already for a new septic on 374 Plum St for the MH's but won't force a new buyer to do it. The option is there to invest in one though.
Location
State TX
County Bastrop
Interior
Interior Features Two Primary Baths, Breakfast Bar, Ceiling Fan(s), Recessed Lighting, Washer Hookup
Heating Electric, Propane
Cooling Central Air, Wall/Window Unit(s)
Flooring Vinyl
Fireplace Y
Appliance Dishwasher, Disposal, Dryer, Electric Range, Gas Cooktop, Gas Range, Microwave, Refrigerator, Washer
Exterior
Exterior Feature Uncovered Courtyard, Lighting
Fence Back Yard, Front Yard
Community Features None
Utilities Available Electricity Connected, Other, Propane, Water Connected
Waterfront No
View Trees/Woods
Roof Type Metal, Shingle
Accessibility Accessible Approach with Ramp, Accessible Washer/Dryer
Porch Rear Porch
Parking Type Additional Parking, Unpaved
Total Parking Spaces 20
Building
Lot Description Back Yard, Trees-Moderate
Faces South
Foundation Pillar/Post/Pier, See Remarks
Sewer Septic Shared
Water Private
Level or Stories One
Structure Type Board & Batten Siding, Vinyl Siding
New Construction No
Schools
Elementary Schools Lost Pines
Middle Schools Bastrop
High Schools Bastrop
Others
Pets Allowed All
Restrictions None
Acceptable Financing Cash, Conventional, FHA, Owner May Carry, Texas Vet, VA Loan
Tax Rate 1.7452
Listing Terms Cash, Conventional, FHA, Owner May Carry, Texas Vet, VA Loan
Special Listing Condition Standard
Pets Description All
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