642 Robinson Street
Property Description
This renovated 4-plex has been worked on from the ground up. Currently 100% occupied, it is split into 1 unfurnished unit for long-term leases and 3 Fully-Furnished all-bills-paid units for mid-term leases (1-6 months or so). The furnishings and decor in the 3 furnished units convey. Since 2023 it's received foundation work (including new subfloors), Mini-split air systems for all units, vinyl plank flooring, interior and exterior paint, new appliances, furniture, decor, and more. Good rents and minimal expenses give this property a whopping CAP rate of 10.3%, and this could be higher if the 4th unit is converted some day to fully-furnished as well. All 4 units are 2 bedroom with 1 bathroom (2/1), set up with 2 units downstairs and 2 units upstairs. There is a central stairway indoors up front to access the upstairs units. In the rear, each unit also has a back door that leads into a common area where the laundry closet is. All tenants share the washer and dryer, and these appliances convey. Three stoves are gas, one is electric. Water and gas are on Master meters and fall under Landlord expenses; electric meters are individual for each unit and could be billed out separately. There are awnings for the Tenant parking area in the rear, but they're down currently due to winter winds.
Broker Details
Cass Real Estate 361-643-2662
MLS ID: 0669077 State License Number: 0669077
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $439,900 |
| No. of Units: | 1 |
| Year Built: | 1948 |
| Lot Size: | 3,072.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $439,900 |
| Property Website | Click Here |
| Number of Bedrooms: | 8 |
| Number of Bathrooms: | 4 |
ID: 3yd-CCARTX-481495
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