Updated almost 7 years ago on . Most recent reply
OFF MARKET 20-unit Apt Complex for Sale - Rio Grande Valley TEXAS
Excellent Value-Add apt complex for sale in Pharr Texas. The property is located in the business districts of Pharr and McAllen Texas in the Rio Grande Valley (South Texas). Major businesses established and some being established currently in the area, due to large development and gentrification plan which started in past few years. Definitely an up and coming area in the Rio Grande Valley.
The complex is located within walking distance of the only TopGolf being built in the Rio Grande Valley.
Details:
20 Units
Purchase price $799,000
Current Gross Income: $132,000
Current NOI: $64,237
Projected NOI after reposition: $76,597
Cap at purchase : 8.03%
Estimated annual cashflow after debt service after reposition, year 1: $22,744
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