About 311 W Franklin Street
Welcome to this versatile income producing property with a rich history. Located in Alvord, TX., this property offers an incredible opportunity for entrepreneurs and business owners seeking a great location for their venture. The apartments feature A cozy 2 bed, 1 bath unit with a contemporary kitchen, spacious living area, and well-appointed bedrooms, and the larger 3 bed 2 bath unit has an updated kitchen. Currently, both units are leased out, generating a steady stream of income, and an excellent opportunity to build equity and wealth. Also, formerly a successful hair salon, the layout of the commercial space is adaptable for various business types. It is situated in a high-traffic area, ensuring maximum visibility and foot traffic. Whether it's a salon, boutique, or office space, this property is ready to accommodate your vision.
Features of 311 W Franklin Street
MLS® # | 20488145 |
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Price | $499,000 |
Units | 3 |
Building Area Total | 2,432 |
Acres | 0.32 |
Year Built | 1941 |
Type | Residential Income |
Sub-Type | Duplex |
Status | Active |
Community Information
Address | 311 W Franklin Street |
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Subdivision | Original Alvord |
City | Alvord |
County | Wise |
State | TX |
Zip Code | 76225-5338 |
Amenities
Utilities | City Sewer, City Water, All Weather Road |
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Parking Spaces | 2 |
Garages | Open, Parking Pad, Unpaved |
Is Waterfront | No |
Has Pool | No |
Interior
Interior Features | Built-in Features, Decorative Lighting, Other |
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Heating | Central, Electric |
Fireplace | No |
Exterior
Roof | Composition |
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Construction | Siding |
Foundation | Slab |
School Information
District | Alvord ISD |
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Elementary | Alvord |
Middle | Alvord |
High | Alvord |
Additional Information
Net Operation Income | $31,621 |
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Gross Annual Income | $37,800 |
Gross Annual Expenses | $0 |
CapitalizationRate | 6.34 |
Unit 1 Details
Type | 1 Bedroom |
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Full Baths | 1 |
Rent | $3,150 |
Listing Details
Agent | Tomie Fox |
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Office | Tomie Fox Real Estate Group |