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5007 E Us Highway 83

Rio Grande City, TX 78582
  • $2,000,000
  • STATUS: Active Under Contract
  • ON SITE: 35 Days
  • MLS #: 365362
Under Contract
$2,000,000
  • 0
    BEDS
  • 0.91
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 26,770
    SQFT
  • $75
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2005
County:

School Information

Elementary School:
Middle School:
High School:
School District:

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

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© 2021 Greater McAllen Association of Realtors Multiple Listing Service.
IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or The Ryan & Brian Real Estate Team | Tierra Frontera, LLC. Data last updated: 2021-10-27T00:16:30.26.
www.ryanandbrian.com/homes/121644920
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5007 E Us Highway 83 Rio Grande City, TX 78582

  • Price: $2,000,000
  • Status: Active Under Contract
  • MLS #: 365362
0
Beds
0
Baths
0
½ Baths
0.91
Acres
26,770
SQFT
$75
$/SQFT
2005
Built
Neighborhood:
Porcion 82 Nicolas Vela
County:
Starr
Area:
Rio Grande City
Elementary School:
Ramirez
Middle School:
Rio Hondo Junior High
High School:
Rio Grande City H.S.
School District:
Rio Grande ISD
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
Exterior Features

Carport Spaces 0 Carport YN No Construction Materials BrickHardiplank Type Covered Spaces 0 Exterior Features None Fencing None Foundation Details Slab Garage YN No Other Structures Outbuilding (None) Parking Features No Garage Parking Total 0 Pool YN No Road Surface Type Paved Roof Shingle

Interior Features

Appliances Electric Water HeaterRefrigeratorStove/Range Cooling Central Air Cooling YN Yes Flooring Tile Interior Features Ceiling Fan(S)Microwave Laundry Features None

Property Features

Accessibility Features Ada Accessible Association YN No Community Features None Green Energy Efficient None Maintenance Expense 7586 Other Expense 62182 Property Sub Type Apartment Complex Sewer City Sewer Tax Annual Amount 29886 Tax Year 2021

Listing by Mark Hanna of Hanna Solutions.
© 2021 Greater McAllen Association of Realtors Multiple Listing Service.
IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or The Ryan & Brian Real Estate Team | Tierra Frontera, LLC. Data last updated: 2021-10-27T00:16:30.26.
 
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The Ryan & Brian Real Estate Team | Tierra Frontera, LLC
801 E. Fern Avenue, Ste. 107
McAllen TX, 78501