401 7th Street, Portland, TX 78374
- $289,900
- 7,700
- SqFt
- List Price
- $289,900
- MLS#
- 479726
- Status
- ACTIVE UNDER CONTRACT
- County
- San Patricio
- City
- Portland
- Subdivision
- Portland-Portland Tier F
- Living Area
- 7,700
- Acres
- 0.49
Property Description
DEADLINE FOR OFFERS: 6:00 pm Wed. August 19th. A block from Portland's NEW 5th & ELM venue in Olde Town, 59 total units make this a great INVESTOR selection, not too large, not too small. Currently it boasts a 90% OCCUPANCY rate, and 10.8% CAP rate from 2025 annual numbers. Most of the tenants have been here for years. With 53 cinder-block units and 6 Trailer units, there is a good variety from small storage to units at 10x10', 10x20', and 10x30' options. Best of all, the maintenance and upkeep is a breeze: there is electricity on the property for security lights, but no water, no climate-controlled units or HVAC systems to maintain, no gas, no open storage. Just simple storage, management, and income made easy, with room to see rent increases over time.
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Additional Information
- Days on Market
- 32
- Year Built
- 1966
- Stories
- 1
- Interior Features
- Storage
- Cooling
- None
- Heating
- None
- Exterior Features
- Storage
- Roof
- Other
Mortgage Calculator
Listing courtesy of Cass Real Estate.