8-Unit Multifamily in Rockport, TX
Aransas County, TX · listed Feb 4, 2025 (631 days)
- $/unit
- $106,250
- ▲ 15% vs TX · 59th pct
- Cap rate
- 10.2%
- ▲ 2.8 pts vs TX median
- NOI
- $87K
- $10,826/unit/yr
- Units
- 8
- 1 bldg · 1997
Financials
- Asking price
- $850,000
- Price per unit
- $106,250
- Price per sq ft
- $114
- Gross rent / year
- Not stated
- Net operating income
- $86,607
- NOI per unit
- $10,826
- Cap rate
- 10.2%
- Gross yield
- Not stated
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 8
- Unit mix
- Not stated
- Buildings
- 1
- Year built
- 1997
- Building size
- 7,456 sq ft
- Avg unit size
- 932 sq ft
- Lot size
- 1 acres
- Condition
- Stabilized
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Feb 4, 2025
- Days on market
- 631 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1477
About this property
Please Read the following Description before asking questions:
Apartment Building with eight units. Long term stable tenants.
Apartments were remodeled in 2018 with quartz counters and complete bathroom remodel. Six RV sites with 20/30/50 amp service - separate septic in place - collection lines have not been installed.
• • City water • • 2017 metal roof - 160 mph wind rated • • shatterproof windows • • sound insulated on highway side • • 2018 cabinets, counters, bathroom replacement • • 1st Floor vinyl plank flooring; 2nd Floor Interface commercial tiles in bedrooms and vinyl plank • • 2 traditional septics serve apartment building
The additional RV sites have water lines and metered electric pedestals. Sites could be rented after installation of collection lines to an existing unused septic system. Potential additional income if rented for RV or Tiny Home sites.
The owner/seller is a licensed Texas real estate broker. Owner will continue property management if requested for 8%. The financial files available on the due diligence section are actual (not proforma). The asking price of $850,000 is already a stabilized, loanable purchase price. The asking price has been reviewed by the current lender and confirmed they will underwrite a loan at this amount. If you base on Proforma, the asking price increases to $975,000.
NO OWNER FINANCING!
CURRENT LOAN IS NOT ASSUMABLE AND LOAN INFORMATION WILL NOT BE PROVIDED.
DO NOT APPROACH TENANTS.
Multifamily | 8 Units | 9.0% Cap
Highlights
- Desirable Rockport Fulton area
- long term tenants with stable monthly rent payments
- All on written leases
- low maintenance - appliances replaced in 2018
- All ACs replaced since 2018
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
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|---|---|---|---|
| Fulton, TX NewOwner financingValue-add | $630K | $52K$52K | — |
 Rockport, TXHigh yieldStabilized | $1.3M | $144K$144K | 9% |
 Rockport, TXValue-add | $800K | $160K$160K | — |
 Aransas Pass, TXStabilized | $699K | $140K$140K | — |
| Port Aransas, TX NewNew construction | $3.1M | $620K$620K | — |
 Portland, TXStabilized | $1.32M | $133K$133K | 6.3% |