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This investment opportunity presents a revenue-generating property spanning 1.698 acres along the bustling US Hwy 287 (19) in Elkhart, TX. The 1,388-square-foot house on the property, currently vacant, was previously rented for $750 per month and boasts a new roof less than two years old. Adjacent to the house, a fully occupied 1,000-square-foot storage building features 10 units, each measuring 10'x10', with a rental rate of $45 per unit per month. There is immediate potential for increased revenue by adjusting the current rental rates. Moreover, the property offers room for expansion, with space available for approximately five additional storage buildings of the same size. Alternatively, investors may consider introducing RV park facilities to diversify usage. These strategic expansions provide avenues for maximizing returns on investment. The property's prime location along the heavily traveled highway enhances its visibility and accessibility, making it an attractive option for potential tenants or users. Investors can capitalize on the existing income streams, explore immediate rate adjustments, and strategically utilize available space for further development. With a mix of residential and commercial elements, this investment opportunity offers both stability and growth potential in the Elkhart, TX market.
| DAYS ON MARKET | 338 | LAST UPDATED | 7/28/2023 |
|---|---|---|---|
| YEAR BUILT | 1950 | COUNTY | Anderson |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| PRICE HISTORY | |
| Prior to Jul 28, '23 | $275,000 |
|---|---|
| Jul 28, '23 - Today | $255,000 |
| ADDITIONAL DETAILS | |
| LOT | 1.698 acre(s) |
|---|---|
| LOT DIMENSIONS | See Remarks |
| PARKING | Off Street |
| SEWER | Public Sewer |
| UTILITIES | Natural Gas Available |
| WATER | Public |
| ZONING | Single Family,Other/See Remarks |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listed with Steve Demuth, Staples Commercial Group, LLC
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