MULTIFAMILYRADAR
48-Unit Multifamily in Weslaco, TX, photo 11 / 30
High yieldStabilized
$6,480,000

48-Unit Multifamily in Weslaco, TX

TX · listed Sep 10, 2024 (777 days)

Price per unit compared
This property$135K
Within ~40 mi (166)$88K
Texas median (1,029)$100K
$/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.

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