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For Sale | 4-Unit Apartment

$369,000

1506 North 3rd Street, Temple, TX 76501

Active
Last Updated: 08/01/2024

5.82

Cap Rate

3,400 sqft

Building Size

Details:
Cap Rate:    5.82%
Building Size:    3,400 sqft
Lot Area:    0.37 acres
Units:    4
Year Built:    1977
Description:

Magnolia Square
● Location: Situated in Temple, Texas, a city experiencing robust population growth and economic expansion. The property is strategically located near major employers, educational institutions, healthcare facilities, and retail centers.
● Occupancy: The property currently boasts a high occupancy rate, reflecting the strong demand for rental housing in the area.
● Economic Growth: Temple is part of the Killeen-Temple-Fort Hood Metropolitan Statistical Area (MSA), which has shown consistent job growth, low unemployment rates, and a diverse economic base, including healthcare, education, manufacturing, and retail sectors.
● Demographics: Temple's population is growing steadily, driven by a combination of local employment opportunities and an influx of residents from nearby metropolitan areas seeking more affordable living options.
● Education and Healthcare: Home to Baylor Scott & White Health, Temple College, and Texas A&M University-Central Texas, the area benefits from a stable base of healthcare and educational institutions that contribute to local economic stability


COMMUNITY AMENITIES
● Shopping and Dining
● Downtown Temple: Features a variety of local shops, boutiques, and restaurants offering diverse cuisines.
● Temple Mall: Provides a range of retail stores, dining options, and entertainment venues.
● Market Loop: Home to big-box retailers, grocery stores, and casual dining establishments.
● Temple Public Library: Offers a vast collection of books, digital resources, and community programs for all ages.
● Temple College: A community college offering a range of associate degrees, certificate programs, and continuing education courses.

APARTMENT AMENITIES
● Recently renovated
● On site washer dryer with opportunity to convert to an extra unit
● Located on one of the main thoroughfares in Temple
● Proximity to I-35

Map:
Documents:
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Offering Memorandum
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