MULTIFAMILYRADAR
13-Unit Multifamily in Cleburne, TX, photo 1
$2,600,000

13-Unit Multifamily in Cleburne, TX

TX · listed Jun 3, 2026 (147 days)

Price per unit compared
This property$200K
Within ~40 mi (136)$131K
Texas median (1,196)$92K
$/unit
$200,000
▲ 117% vs TX · 86th pct
Cap rate
—
 
NOI
$183K
$14,112/unit/yr
Units
13
4 bldg · 2015

Financials

Asking price
$2,600,000
Price per unit
$200,000
Price per sq ft
$166
Gross rent / year
$234,000
Net operating income
$183,456
NOI per unit
$14,112
Cap rate
Not stated
Gross yield
9%gross rent ÷ price
Occupancy
100%

As stated by the seller. Verify during due diligence.

Building

Units
13
Unit mix
13 income-producing units
Buildings
4
Year built
2015
Building size
15,680 sq ft
Avg unit size
1,206 sq ft
Lot size
Not stated
Condition
Not stated

Deal terms

Owner financing
Not stated

Listing

Listed
Jun 3, 2026
Days on market
147 days
On MultifamilyRadar
Oct 28, 2026
Last price change
Not stated
Location
Approximate (~0.5 mi)
Listing #
1170

About this property

This attractive multi-family investment property offers a strong combination of dependable rental appeal, durable construction features, and practical tenant amenities. Although Tax records reflect a Cleburne, Texas address, the property is more commonly recognized as being located in Keene, Texas, providing convenient access to both communities and surrounding growth corridors. Property is only minutes from Chisholm Trail Parkway. The Property consists of one fourplex building and three triplex buildings situated on appx 5.58 acres, creating a spacious residential setting with a total of 13 income-producing units. The fourplex includes covered two-car carports, while the triplex buildings feature integrated carport designs that provide convenient covered parking for residents and contribute to the property's cohesive appearance and functionality. All units are thoughtfully designed with spacious two-bedroom, two-bath floor plans that appeal to a broad tenant base. Residents enjoy comfortable living spaces enhanced by walk-in closets in the bedrooms, dedicated washer and dryer rooms for full size appliances, and fully equipped kitchens with dishwasher included in every unit. Each residence is equipped with central heating and air conditioning, with the majority of the units consisting of quality Crane HVAC units, supporting reliable climate and long-term operational efficiency. The interiors feature stained concrete throughout, offering an attractive, modern appearance combined with durability and ease of maintenance -an ideal feature for long-term property ownership and reduced turnover costs. Significant recent capital improvements have already been completed, including newer roofs on all buildings with roof ages ranging between 12 and 16 months. These recent upgrades help minimize near-term maintenance concern. The property is supported by a combination of two septic systems. Opportunity to buy additional investment property, MLS #21289495

Location

Approximate area. The exact address is shared on request.

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