2095 La Palma St - Apartments FOR SALE


San Benito, TX 78586
$1,975,000 USD
956-621-6714
2095 La Palma St, San Benito, TX for Sale
$1,975,000 USD
Apartments - FOR SALE
1/28
null | 6.46% Cap Rate

2095 La Palma St
San Benito, TX 78586


HIGHLIGHTS

  • Low Vacancy
  • Value Add Potential
  • Stable Tenants

OVERVIEW

Prime 36-Unit Apartment Complex in the Heart of San Benito – Strong Income & Value-Add Potential Introducing a rare multifamily investment opportunity in the rapidly growing Rio Grande Valley. This 36-unit apartment complex features a mix of 34 two-bedroom units and 2 one-bedroom units, offering a solid foundation of stable rental income with room for upside through continued renovations and management efficiencies. Units feature semi-updated interiors, central heat and air, large bedrooms, and stable occupancy. All electrical is individually metered, providing utility cost transparency for tenants, while water is serviced by two master meters. Water bill just decreased by nearly $10,000 per year due to an ongoing leak that created city billing issue for the last few years. Key property features include: - On-site laundry facilities offering additional revenue potential - Ample parking for residents - On-site office space, which may be convertible into additional units or alternate income-generating use - Strategic location minutes from local schools, employers, and Hwy 77 Proximity to Harlingen Airport (25 mins) and South Padre Island (30 mins). The complex enjoys strong occupancy and presents a clear opportunity to increase NOI through rental growth, operational efficiencies, and selective capital improvements. Whether you're expanding your portfolio or entering the multifamily market, this asset offers long-term value, immediate cash flow, and multiple paths to appreciation. ?? Contact us today for the full financial packet, rent roll, and other details. Disclaimer: All information provided is deemed reliable but is not guaranteed and should be independently verified. TNT Real Estate and its agents make no representations or warranties, express or implied, as to the accuracy or completeness of any information contained herein. Buyers are advised to conduct their own due diligence, including but not limited to financial analysis, inspections, and verification of all property details. This offering is subject to errors, omissions, prior sale, price change, or withdrawal without notice.

FOR SALE DETAILS

PRICE

$1,975,000 USD

PRICE/SF

$83 USD /SF

# OF UNITS

36

PRICE/UNIT

$54,861

CAP RATE

6.46%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1994

PARKING SPACES

45

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,272 SF

ZONING

B

APN/PARCEL ID

610820-1240-009310

ASK ABOUT THIS PROPERTY

Boone TysonTNT Real Estate GroupMore Info
956-621-6714

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Boone TysonTNT Real Estate GroupMore Info
956-621-6714

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