8-Unit Multifamily in Palmview, TX
Hidalgo County, TX · listed Feb 26, 2025 (609 days)
- $/unit
- $61,875
- ▼ 33% vs TX · 23rd pct
- Cap rate
- —
- Gross yield
- —
- Units
- 8
- 2 bldg · 1999
Financials
- Asking price
- $495,000
- Price per unit
- $61,875
- Price per sq ft
- $62
- 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
- 8
- Unit mix
- eight 2-bedroom, 1-bath units
- Buildings
- 2
- Year built
- 1999
- Building size
- 8,038 sq ft
- Avg unit size
- 1,005 sq ft
- Lot size
- 0.27 acres
- Condition
- Stabilized
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Feb 26, 2025
- Days on market
- 609 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1881
About this property
INCOME PRODUCING Investment Opportunity! This well-maintained 8-plex features spacious and inviting 2-bedroom, 1-bathroom units, each thoughtfully designed for comfort and convenience. Property Highlights: 8 total units, all currently leased, except Unit #8 (vacant and ready to show!). Also feature all-wood cabinetry and tile flooring throughout, Kitchen appliances included, two designated parking spaces per unit (16 total covered spaces), Individual water meters and electric meters, tenants pay all utilities, Landlord pays only landscaping and dumpster service ($300/month total), zoned near top-rated schools and close to the expwy for easy commuting. Rental increases up to $795/month can be implemented on three units over the next 2–4 months, offering immediate upside. Whether you're an experienced investor or just entering the market, this 8-plex offers excellent cash flow, strong tenant appeal, and future growth potential.
Multifamily | 8 Units
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
| $399K | $80K$80K | 7.5% | |
Stabilized | $599K | $75K$75K | — |
Owner financingNew construction | $975K | $81K$81K | — |
| $595K | $50K$50K | — | |
▼ 5% cut | $350K | $44K$44K | — |
▼ 5% cutHigh yield | $525K | $58K$58K | 12.1%gy |