5007 US Highway 83 - Apartments FOR SALE


Rio Grande City, TX 78582
$1,650,000 USD
956-363-1179
5007 US Highway 83, Rio Grande City, TX for Sale
$1,650,000 USD
Apartments - FOR SALE
1/26
null | 9.62% Cap Rate

5007 US Highway 83
Rio Grande City, TX 78582


HIGHLIGHTS

  • New roof installed in 2021.
  • 30 of 32 A/C units replaced in the last 3 years.
  • Parking lot fully upgraded to concrete.
  • Interior renovations (paint, flooring, and appliances) completed in 29 units.
  • Individual electric and water meters for all 32 units.

OVERVIEW

This 32-unit multi-family property, located on the north side of US Highway 83, presents an amazing opportunity to acquire a stabilized asset in a rapidly growing South Texas market. The property consists of five buildings situated on approximately 1.72 acres. Recent major renovations include new roofs (2021), new A/C units (all but two replaced), a new concrete parking lot, and refurbished appliances in 29 of the 32 units.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$62 USD /SF

# OF UNITS

32

PRICE/UNIT

$51,563

CAP RATE

9.62%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

El Shaddai Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2004

PARKING SPACES

16

LAND DETAILS

LAND ACRES

1.7 AC

LAND SF

74,052 SF

ZONING

B1

APN/PARCEL ID

00179-08200-06000-000100

ASK ABOUT THIS PROPERTY

Jacob GalvanUrsa Real EstateMore Info
956-363-1179

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Jacob GalvanUrsa Real EstateMore Info
956-363-1179

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