5007 E US Highway 83, Rio Grande City, TX 78582

Listed by Hanna Solutions

$2,000,000

Est.Price: ?

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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

Originating Board Greater McAllen

Year Built 2005

Annual Tax Amount $29,886

Tax Year 2021

Lot Size 0.913 Acres

Acres 0.913

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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