Mineral Wells, TX 76067,501 NW 6th Street
$675,000
Est.Price: ?

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15 BD
14 BA
0.27 Acres Lot

501 NW 6th Street Mineral Wells, TX 76067

Est. payment /mo
SOLD DATE : 04/08/2022

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Key Details

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Subdivision Wiggins Add

MLS Listing ID 20009036

Sold Date 04/08/22

Bedrooms 15

Full Baths 14

HOA Y/N None

Total Fin. Sqft 8787

Lot Size 0.273 Acres

Acres 0.273

Property Description

Value add investment opportunity! 7 units; six 2 bed 2 bath, one is 3 bed 2 bath, walking distance to The Baker & Crazy Hotels. With the plans for Mineral Wells to be the Branson of TX this could be a short term rental cash cow! 4 units have all new plumbing, electric, flooring, kitchens, baths, everything new. All 7 have new windows. HVAC's have been serviced & all in good working order. Separate meters. 2 of the units are leased @ $1200 a month. This price is if sold as is with 2 units complete, 2 just need knock out items & appliances to have $5000 coming in while completing. 3 of the units are gutted and ready for your ideas! Most of the finish out materials are there for the other 3 units. They are U shape with what could be a really cool courtyard. We are planning for $8600 in rents for long term and more for short term. If you were all in at $900k with your mortgage that is over $3500 a month net profit, 8.6% cap and 11.24% cash on cash return. MLS map takes you to 501 NE 6th.

Location

State TX

County Palo Pinto

Direction GPS

Interior

Interior Features Cable TV Available, Decorative Lighting, Paneling

Heating Central, Natural Gas

Cooling Central Air, Electric

Appliance Dishwasher, Electric Range, Plumbed for Ice Maker, Refrigerator

Heat Source Central, Natural Gas

Exterior

Utilities Available City Sewer, City Water

Roof Type Composition

Total Parking Spaces 14

Garage No

Building

Story One

Foundation Pillar/Post/Pier

Structure Type Brick,Siding

Schools

School District Mineral Wells Isd

Others

Ownership Gorilla Capital Partners

Financing Private

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North Texas Real Estate Info Systems (NTREIS) -MetroTex and Collin County (CCAR)
Listed by Sherry Patterson • Aspire Investments LLC
Bought with Michele Waters • Keller Williams Realty DPR

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Genevieve Golden

Broker | License ID: 0603993

+1(903) 268-6347

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