0000 E Us Highway 83, Rio Grande City, TX 78582
- $2,150,000
- 26,770
- SqFt
- List Price
- $2,150,000
- Status
- ACTIVE
- MLS#
- 401979
- Living Area
- 26,770
- Lot Size (Acres)
- 0.913
- Year Built
- 2005
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, new double paned windows, and new appliances. Although income has been steadily increasing, there is still room to raise rents that currently average $536/unit. The region has been growing and developing rapidly and rental demand is strong. There is currently only one vacancy. The property historically stays near 100% occupancy. Take your rental portfolio to the next level by acquiring these 32 units for only $67k per door! SELLER ALSO OWNS 5 FOURPLEXES IN PHARR THAT WE ARE PREPARING TO LIST -All A/C Units except 2 have been replaced in last 3 years -Brand new roof as of 2021 -Entire parking lot has been upgraded to concrete -Plan in place to continue increasing rent -$700/month in laundry income -$18,500 in monthly rents -Down the street from Walmart
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Additional Information
- Area
- Rio Grande City
- Subdivision
- Porcion 82 Nicolas Vela
- Taxes
- $27,865
- Stories
- 2
- Interior Features
- None
- Amenities
- None
- Exterior Features
- None
- Heating
- Central
- Cooling
- Central Air
- Sewer
- City Sewer
- School District
- Rio Grande ISD
- Elementary School
- Ramirez
- Middle School
- Rio Hondo Junior High
- High School
- Rio Grande City H.S.
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Listing courtesy of Luke Lancaster with Hanna Solutions