401 7th Street, Portland, TX 78374
sale
$289,900
|
Other
Courtesy Of Cass Real Estate
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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Property Features
- Age: Over 50 Years Old
- Exterior Type: Block
- Floors: 1
- Legal Description: PORTLAND TIER F BLK 7 LOTS 1 THRU 6
- MLSID: 479726
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