1 / 3048-Unit Multifamily in Weslaco, TX
TX · listed Sep 10, 2024 (777 days)
- $/unit
- $135,000
- ▲ 35% vs TX · 68th pct
- Cap rate
- 8%
- ▲ 0.7 pts vs TX median
- NOI
- $519K
- $10,804/unit/yr
- Units
- 48
- 24 bldg · 2024
Financials
- Asking price
- $6,480,000
- Price per unit
- $135,000
- Price per sq ft
- $120
- Gross rent / year
- Not stated
- Net operating income
- $518,580
- NOI per unit
- $10,804
- Cap rate
- 8%
- Gross yield
- Not stated
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 48
- Unit mix
- 2 each 2-Bed/2-Bath, and 2 each 3-Bed/2-Bath units
- Buildings
- 24
- Year built
- 2024
- Building size
- 54,000 sq ft
- Avg unit size
- 1,125 sq ft
- Lot size
- Not stated
- Condition
- Stabilized
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Sep 10, 2024
- Days on market
- 777 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1747
About this property
Heron’s Landing represents an Urban, High end, Luxury Fourplex development that is a very rare find! The first phase is fully leased with leases in hand. Builder is proposing amenities, Clubhouse, Gym, Dog park with Dog wash station and Pickle ball Sport Court. NO Fourplex communities do this!! These units are popular because of the great, quiet location, fast access to the interstate, schools and commuting distance from the McAllen MSA, as well as Brownsville, Texas and the new Aerospace complexes growing there by leaps and bounds. These units were built with the owner and tenant in mind. Beautiful top end Stainless Steel Kitchen appliances by LG, and each unit also has a Washer/Dryer included! Each Fourplex is 4,500 SF, with a great mix of 2 each 2-Bed/2-Bath, and 2 each 3-Bed/2-Bath units. Near Zero maintenance floors of polished concrete are very popular! Low to zero maintenance side/back yards. The builder runs the HOA and leasing, and will guarantee the first years leases. And so much more. Download the Offering Memorandum for much more information.
12 - 70 Fourplexes available by a custom builder first 48 units in phase 1 fully leased
Highlights
Leases in Hand, 12 Fourplexes immediately available, with option to take next phases to a total of 70 with mostly Fourplex units, and an 8 cap. Low to zero maintenance in many areas such as floors, and Side/backyard spaces. Beautiful high end Stainless Steel kitchen appliances, and Washer and Dryer included attract good tenants!
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
Weslaco, TX | $1.55M | $194K$194K | — |
Weslaco, TXHigh yieldNew construction | $1.55M | $97K$97K | 10.2% |
Weslaco, TX▼ 3% cutStabilized | $938K | $117K$117K | — |
Weslaco, TX | $520K | $87K$87K | — |
| Weslaco, TX Owner financing | $1.4M | $70K$70K | — |
Weslaco, TX▼ 4% cutStabilized | $1.15M | $68K$68K | — |




