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    5007 E Us Highway 83

    Rio Grande City, TX 78582
    • $2,000,000
    • STATUS: Active Under Contract
    • ON SITE: 33 Days
    • MLS #: 365362
    Under Contract
    UPDATED: 63 min ago
    $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 Maggie Harris Team | Keller Williams Realty. Data last updated: 2021-10-25T08:16:30.693.
    www.maggieharristeam.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
    • Updated: 63 min ago
    • 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 Maggie Harris Team | Keller Williams Realty. Data last updated: 2021-10-25T08:16:30.693.
     
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    The Maggie Harris Team | Keller Williams Realty
    833 N Ware Rd
    McAllen TX, 12345