406 Lexington Rd, Elgin, Texas 78621 For Sale

Rare investment opportunity that cashflows with a 25% downpayment even with the current interest rates. This gorgeous half-acre property is currently being used as a triplex. Great option for investment(produces ~10% cash on cash return), a home with income potential, or multi-generational living. Zoned as single-family residential, the property consists of one large main home with 3 BDs, a full bath, and a private covered patio, plus two leased units (2BD/1BA and 1BD/1BA). The front unit is currently leased for $1600/month, middle unit for $850/mo, back unit is leased for $900/mo, and the shed brings in an additional income of $200/mo. With a total rental income of $3550/mo and a cap rate of >5%, this is the type of investment that seasoned investors seek. The main home features a large main living area with a sunny dining nook, hardwood floors, and plentiful windows that bring in natural light. The kitchen is outfitted with a SS gas range, subway tile backsplash, dishwasher, fridge, and stackable W&D. The middle unit offers a bright space with painted concrete flooring, a living room, a dining area, a kitchenette, laundry hookups, two bedrooms, and a bathroom with an open walk-in shower. The 3rd unit offers a kitchen with an electric range, microwave, fridge, and breakfast bar seating, plus a living room, bedroom, full bath, a large laundry room, and lots of closet space. A large yard surrounds the home and offers a detached shed with workshop potential. Mature trees line the back of the yard providing excellent privacy. Spacious concrete driveway offers lots of parking. Great location in the heart of charming Elgin just blocks from downtown with historic architecture, cafes, restaurants, famous BBQ, Elgin Memorial Park, and more. Easy access to 95 & 290. Just 25 miles from Downtown Austin. Close to Tesla & Samsung plants. This is a great time to get into this rapidly growing small town in the Central Texas corridor. Come and check it out today!