10 CAP | 16 Unit Multi-Family | 1310 S 23rd ST | Temple, TX | $704,620
10 CAP. 16 Unit Multi-Family. 88 percent occupancy. 2017 Tax Return $70,462 NOI. Proforma $29,603 Net Cash Flow. No rent increase since 2017. Increase rents 5% and lease 2 vacant units to increase Net Cash Flow by 65% to $48,941. At 5 MIN drive time, 31,966 daytime workforce vs. 13,468 residents indicating unmet demand for local housing. % of daytime workforce vs. residents is 65% higher at 5 MIN drive time vs. Temple. Adjoining census tracts to north and east are HUD Qualified Census Tracts confirming unmet local demand for low income housing. On site manager in lieu of rent. 18,900 SF lot. Not in Flood Zone. Temple ISD. 56 Walkscore. Under 1 MI to Scott & White and VA Hospitals and Scott & White Santa Fe Clinic. Just over 1 MI to Children’s Hospital and Temple Mall. 1.4 MI to I35 at Central AVE. 1.4 MI to US190 at 31st ST.