Description

Please review the appraisal report. 12 one story townhome style units with a permit in process to build 8 more units makes this investment property so unique in this market! Excellent opportunity to plant a flag in this fast growing town with ample demand for housing solutions. The garden style community sits on 35,283 Square feet of land and is composed of one I shaped building. Another positive point is when you start the 8 new units, you don't have to ask your exciting tenants to leave to start the construction A newly installed, solid roof boasts over 24 new flat ventilation vents, ensuring optimal air circulation within the structure. Each of the 12 units has undergone a complete renovation, which includes a reinforced foundation with rebars and concrete, brand new vinyl flooring throughout, as well as brand new kitchens equipped with high end appliances such as island hood fans, side by side fridges with ice makers, and water dispenser. Furthermore, all master bedrooms now feature spacious walk in closets. The plans for the development of eight supplementary units, along with two accessory dwelling units, have been finalized and are prepared for submission. The community is highly walkable via an adjacent retail facility featuring a Supermarket, a coffee shop, multiple salons, Within a five minute drive, families and professionals will enjoy the unmatched proximity to other amenity hubs with multiple parks, shopping centers, and Downtown Abilene. 702 R Ave offers the perfect opportunity with high cap rate to capitalize on this burgeoning market.