Lampasas Portfolio
$1,100,000
603 South Spring Street, Lampasas, TX 76550
9,288 sqft
Building Size
Details:
Description:
The Lampasas Portfolio consists of 16 total units arranged in three different buildings located at 603 S Spring(7 Units), 103 E 3rd(4 units), and 402 S Porter(5 Units). The package offers one and two - bedroom units ranging from 475 square feet to 968 square feet.The portfolio's unit mix being primarily comprised of one-bedroom units. One-bedroom units comprise 62.5% of the unit mix, efficiencies making up 12.5% and two-bedroom units make up the remaining 25%. The property is 100% occupied and is currently operated as all bills paid.
The Lampasas Portfolio is situated along inside of Highway 183 near I35. The commuter friendly location offers direct access to major transportation arteries and quick commute times to the suburbs of Austin while maintaining the convenience and perks of intown living. The complex is closely surrounded by employment opportunities, various restaurants, and a strong retail presence, with easy access to Walmart and H-E-B.
Future ownership has the opportunity to renovate all 16 units at the property to a value-add scope. Potential renovation features include stainless steel appliances, hard surface countertops and und vinyl plank flooring. The upgrade is projected to achieve an average per unit premium of $35 per month.
Location
