8205 N La Homa Rd - Apartments FOR SALE


Mission, TX 78574- Outer Mission Alton
$1,275,000 USD
956-592-5056
8205 N La Homa Rd, Mission, TX for Sale
$1,275,000 USD
Apartments - FOR SALE
1/48
null | 6.01% Cap Rate

8205 N La Homa Rd
Mission, TX 78574
Outer Mission Alton


HIGHLIGHTS

  • Newly remodeled, new wood cabinets with granite countertops, all tile, tankless hot water units, new stainless steel appliances, washer/dryer, etc.

OVERVIEW

It's turnkey now but there is a possibility for Value add by adding more units to the property. There are 9 units fully occupied now. We will be adding a 10th unit soon that will be a one bedroom and will rent for $825+ and will be super nice. We're tentatively able to add 16 more units or 36 more bedrooms on a total of 1.7 acres at average rent of $950. This would push the cap rate above 10%. Would consider owner financing for slightly higher sales price and significant down. Up and coming area with commercial, elementary, middle and high schools, new corner store/gas station next door and a newer mini grocery/convenience store across the street, 15 minutes to UTRGV, 12 minutes to expressway, etc.

FOR SALE DETAILS

PRICE

$1,275,000 USD

PRICE/SF

$153 USD /SF

# OF UNITS

9

PRICE/UNIT

$141,667

CAP RATE

6.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2002

PARKING SPACES

27

LAND DETAILS

LAND ACRES

1.7 AC

LAND SF

74,052 SF

ZONING

RS

APN/PARCEL ID

345463

ASK ABOUT THIS PROPERTY

Samuel CregoWestgate Village HomesMore Info
956-592-5056

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Samuel CregoWestgate Village HomesMore Info
956-592-5056

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