1 / 19Value-add
$1,800,000
32-Unit Multifamily in Rio Grande City, TX
Starr County, TX · listed Jul 30, 2024 (820 days)
Price per unit compared
This property$56K
Within ~40 mi (123)$86K
Texas median (1,029)$100K
- $/unit
- $56,250
- ▼ 44% vs TX · 11th pct
- Cap rate
- —
- Gross yield
- —
- Units
- 32
- 2 bldg · 2005
Financials
- Asking price
- $1,800,000
- Price per unit
- $56,250
- Price per sq ft
- $67
- Gross rent / year
- Not stated
- Net operating income
- Not stated
- NOI per unit
- Not stated
- Cap rate
- Not stated
- Gross yield
- Not stated
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 32
- Unit mix
- Not stated
- Buildings
- 2
- Year built
- 2005
- Building size
- 26,770 sq ft
- Avg unit size
- 837 sq ft
- Lot size
- Not stated
- Condition
- Value-add
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Jul 30, 2024
- Days on market
- 820 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1419
About this property
Amazing opportunity to pick up 32 units in South Texas. Renovations have been done to the property over the last 4 years including roofs, A/C units, parking area, and appliances. Although income has been steadily increasing, there is still room to raise rents. The region has been growing and developing rapidly and rental demand is strong. - A/C Units updated in some units. -Roof replaced as of 2021 -Some units have been renovated including new and/or refurbished appliances -Parking area has been updated -Close proximity to shopping and restaurants.
Multifamily | 32 Units
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
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|---|---|---|---|
 Rio Grande City, TX | $3.36M | $84K$84K | — |
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| Rio Grande City, TX New | $1.75M | $55K$55K | — |
 Roma, TX | $890K | $45K$45K | — |
 Roma, TX | $795K | $57K$57K | — |
 San Benito, TXValue-add | $1.98M | $55K$55K | 6.5% |