164 W Old Highway 83 - Apartments FOR SALE


Rio Grande City, TX 78582
$299,000 USD
956-522-9548
164 W Old Highway 83, Rio Grande City, TX for Sale
$299,000 USD
Apartments - FOR SALE
1/21
null | 12.83% Cap Rate

164 W Old Highway 83
Rio Grande City, TX 78582


HIGHLIGHTS

  • Income-Producing Multifamily Asset featuring eight apartment units and one detached pier-and-beam single-family residence
  • Strong In-Place Returns with seller-provided financials indicating an approximate 13% capitalization rate, offering attractive cash flow
  • Fully Occupied Property with established tenants, providing immediate income upon acquisition and minimizing lease-up risk.
  • Value-Add Opportunity with potential to increase returns through rental optimization, operational efficiencies, & future improvements
  • Flexible Unit Mix consisting of seven 1-bedroom/1-bath apartments, one 2-bedroom/1-bath apartment, and a separate 3-bedroom/1-bath single-family
  • Strategic Location along Old US Hwy 83 with approximately 214 feet of frontage, offering excellent accessibility

OVERVIEW

Exceptional multifamily investment opportunity in Rio Grande City, Texas, offering immediate in-place cash flow, stable occupancy, and future value-add potential. The asset consists of eight (8) apartment units and one (1) detached pier-and-beam single-family residence situated across Four building structures on approximately 0.50 acres. The multifamily component features a diverse unit mix consisting of seven (7) 1-bedroom/1-bath units and one (1) 2-bedroom/1-bath unit, complemented by a separate 3-bedroom/1-bath single-family residence. The property is currently 100% occupied with established tenants, providing investors with a stabilized income stream and an opportunity to enhance performance through rental growth, operational efficiencies, and strategic capital improvements. Seller-provided financials indicate an approximate 13% capitalization rate, offering an attractive going-in yield for investors seeking strong current returns and long-term appreciation potential. The property includes approximately 214 feet of frontage along Old US Hwy 83, providing excellent accessibility and visibility within the Rio Grande City market. Located near the Rio Grande City Medical Corridor, UTRGV Starr County Campus, South Texas College, retail centers, restaurants, schools, and major employment centers, the property benefits from proximity to key regional demand drivers. This offering presents an opportunity to acquire a stabilized multifamily asset with current cash flow, operational upside, and long-term investment potential in South Texas.

FOR SALE DETAILS

PRICE

$299,000 USD

PRICE/SF

$77 USD /SF

# OF UNITS

9

PRICE/UNIT

$33,222

CAP RATE

12.83%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

12% CAP | 9-Unit Multi-Family | 100% Leased

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

-

APN/PARCEL ID

00082-07800-01620-000000,00082-07800-01620-000010

ASK ABOUT THIS PROPERTY

Tony GarzaColdwell Banker Commercial Rio Grande ValleyMore Info
956-522-9548

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Tony GarzaColdwell Banker Commercial Rio Grande ValleyMore Info
956-522-9548

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.