$2,000,000
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26,770 SqFt
SOLD DATE : 06/13/2022
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 26,770 sqft
Subdivision Porcion 82 Nicolas Vela
MLS Listing ID 365362
Sold Date 06/13/22
HOA Y/N No
Year Built 2005
Annual Tax Amount $29,886
Tax Year 2021
Lot Size 0.913 Acres
Acres 0.913
Property Sub-Type Apartment
Source Greater McAllen
Property Description
Amazing opportunity to pick up 32 units in South Texas. Major renovations have been done to the property over the last 3 years including new roofs, new A/C units, new parking lot, and new appliances. Although income has been steadily increasing, there is still room to raise rents that currently average $511/unit.
The region has been growing and developing rapidly and rental demand is strong.
Take your rental portfolio to the next level by acquiring these 32 units for only $62,500 per door!
-All A/C Units except 2 have been replaced in last 3 years
-Brand new roof as of 2021
-All units but 3 have been renovated including new and refurbished appliances
-Entire parking lot has been upgraded to concrete
-Plan in place to continue increasing rent
-Proposed rent increases will result in $216k annual gross income
-Down the street from Walmart
Location
State TX
County Starr
Rooms
Other Rooms Outbuilding (None)
Interior
Interior Features Ceiling Fan(s), Microwave
Heating Central
Cooling Central Air
Flooring Tile
Appliance Electric Water Heater, Refrigerator, Stove/Range
Laundry None
Exterior
Exterior Feature None
Fence None
Community Features None
View Y/N No
Roof Type Shingle
Garage No
Building
Faces WEST on US Hwy 83. Located on NORTH side of US Hwy 83 after North La Perica Street, before reaching N Blanca Rd.
Story 2
Foundation Slab
Sewer City Sewer
Structure Type Brick,HardiPlank Type
New Construction No
Schools
Elementary Schools Ramirez
Middle Schools Rio Hondo Junior High
High Schools Rio Grande City H.S.
Others
Tax ID 001790820006000000100
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