204 Green St
Marlin, TX 76661

16 unit apartment complex in Marlin, TX, about 25 minutes from Waco. All units are desirable large 2 bedroom 1.5 bath townhouse layout with dual outside access to parking and courtyard. Each unit is individually metered for electric. Significantly below replacement cost. Property is easy to rent and historically runs about 90% occupancy. Most units rented for $450 per month generating solid cash flow, with some 10-20 year residents lower. This is a VALUE ADD opportunity as upside in rents and property value with implementing minor property renovation (fixing wood trim, paint, etc) and updating strategy. (paint/fixtures/etc) Central HVAC, concrete parking, and nice courtyard with small maintenance storage shed included. Central HVAC, concrete parking, and nice courtyard with small maintenance storage shed included. There is a maintenance/manager in place. No Section 8 tenants or other programs are currently accepted. Tenants provide their own appliances and pay 1 month deposit. Property opportunities for 2019: * Do utility billback for water and trash (RUBS) or a water conservation program as property still has original 5 gallon water waster toilets... * Update units for higher rents. * Do a contract with master Satellite provider. * Rent individually or provide appliances for a rental premium. * Install a coin operated laundry onsite.