$550,000
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5,546 SqFt
SOLD DATE : 05/28/2024
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 5,546 sqft
Subdivision La Lomita Estates
MLS Listing ID 428931
Sold Date 05/28/24
HOA Y/N No
Originating Board Greater McAllen
Year Built 1996
Annual Tax Amount $11,723
Tax Year 2023
Lot Size 0.420 Acres
Acres 0.4197
Property Sub-Type Apartment
Property Description
Now Available for Purchase: Fully Occupied 8-Plex in McAllen, TX! Located in a thriving area known for its economic growth and vibrant community, the property benefits from its proximity to local amenities, including shopping centers, restaurants, parks, and educational institutions, making it an attractive option for tenants and a strategic asset for investors. The property has been meticulously managed by the same owner for over a decade and their "pride of ownership" is readily apparent. The 2-story property features eight units, each offering approximately 700 square feet of living space with 2 bedrooms and 1 bathroom. It is a rarity to have a vacancy. The property's competitive pricing, combined with McAllen's steady rental market, positions this complex as a solid investment with potential for cash flow and capital appreciation. Financial details, including rental income, operating expenses, and net operating income, are available upon request to interested investors.
Location
State TX
County Hidalgo
Community Curbs, Sidewalks
Rooms
Other Rooms Outbuilding (None)
Interior
Heating Central, Electric
Cooling Central Air, Electric
Flooring Tile
Appliance Electric Water Heater, Water Heater (Other Location), Refrigerator, Stove/Range-Electric Coil
Laundry Laundry Closet, Washer/Dryer Connection
Exterior
Exterior Feature Mature Trees
Fence Decorative Metal
Community Features Curbs, Sidewalks
View Y/N No
Roof Type Composition Shingle
Garage No
Building
Lot Description Corner Lot, Irregular Lot, Mature Trees, Professional Landscaping, Sidewalks
Faces From I2, exit North on Ware. Take a right on Vine and destination is on the left.
Story 1
Foundation Slab
Sewer City Sewer
Water Public
Structure Type Brick
New Construction No
Schools
Elementary Schools Adame
Middle Schools A.C. Blunt
High Schools Agua Dulce H.S.
Others
Tax ID L132000000011500
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