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$2,000,000
5007 E Us Highway 83, Rio Grande City, TX 78582
0 Beds
0 Baths
26,770 sqft

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Amazing opportunity to pick up 32 units in South Texas. Major renovations have been done to the property over the last 3 years including new roofs, new A/C units, new parking lot, and new appliances. Although income has been steadily increasing, there is still room to raise rents that currently average $511/unit. The region has been growing and developing rapidly and rental demand is strong. Take your rental portfolio to the next level by acquiring these 32 units for only $62,500 per door! -All A/C Units except 2 have been replaced in last 3 years -Brand new roof as of 2021 -All units but 3 have been renovated including new and refurbished appliances -Entire parking lot has been upgraded to concrete -Plan in place to continue increasing rent -Proposed rent increases will result in $216k annual gross income -Down the street from Walmart
  • Price:
  • $2,000,000
  • Square Footage:
  • 26,770
  • Acreage:
  • 0.91
  • Year Built:
  • 2005
  • Listing ID #:
  • 365362
  • Street Address:
  • 5007 E Us Highway 83
  • City:
  • Rio Grande City
  • State:
  • Texas
  • Postal Code:
  • 78582
  • County:
  • Starr
  • Subdivision:
  • Porcion 82 Nicolas Vela
  • Listing Status:
  • Pending
  • Listing Type:
  • Residential Income
2
out of 5

Dr Mario E Ramirez Elementary School
Public
School Grade Level PRESCHOOL-5
School Students 400 students
School Teachers 16 student/
teacher
n/a

RIO HONDO JUNIOR HIGH
Public
n/a

RIO GRANDE CITY H.S.
Public
  • Construction Type:
  • Brick, Hardiplank Type
  • Flooring:
  • Tile
  • Foundation:
  • Slab
  • Has Handicap Features:
  • Ada Accessible
  • Interior Features:
  • Ceiling Fan(s), Microwave
  • Number Of Units:
  • 32
  • Other Buildings:
  • Outbuilding (none)
  • Square Footage Source:
  • Seller Measured
  • Total # Of Buildings:
  • 5
  • Total Building Square Footage:
  • 26770
  • Type Of Roof:
  • Shingle
  • Year Built:
  • 2005
  • Annual Maintenance Expenses:
  • 7586
  • Gross Income:
  • 166144
  • Lot Size:
  • 39770
  • Lot Size Units:
  • Square Feet
  • Lot Square Footage:
  • 39770
  • Road Type:
  • Paved
  • Originating Mls:
  • Greater McAllen
  • Subdivision:
  • Porcion 82 Nicolas Vela
  • Property Taxes:
  • $29,886
  • Tax Year:
  • 2021
  • Parking Description:
  • No Garage
  • Appliances:
  • Electric Water Heater, Refrigerator, Stove/Range
  • Cooling System:
  • Central Air
  • Has Central Air Conditioning:
  • Yes
  • Sewage Type:
  • City Sewer
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing provided by Hanna Solutions

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