Address
5007 E US Highway 83 Rio Grande City, TX
Price
$ 2,000,000
Property Attributes
  • MLS#365362
  • TypePending
  • CountySTARR
  • CityRio Grande City
  • AreaRio Grande City
  • NeighborhoodPorcion 82 Nicolas Vela
  • Zip78582
  • StyleApartment Complex
  • Year Built2005
  • Taxes$ 29886
  • Price$ 2,000,000
  • Bedrooms32
  • Full Bathrooms32
  • Half Bathrooms0
  • Sqr Footage26770
  • Lot Size0.91 Acres
Listing Provided Courtesy Of:
Hanna Solutions
Data Source:
Greater McAllen Association of REALTORS® (GMAOR) - 118 - TX
Property Description

Amazing opportunity to pick up 32 units in South Texas. Major renovations have been done to the property over the last 3 years including new roofs, new A/C units, new parking lot, and new appliances. Although income has been steadily increasing, there is still room to raise rents that currently average $511/unit. The region has been growing and developing rapidly and rental demand is strong. Take your rental portfolio to the next level by acquiring these 32 units for only $62,500 per door! -All A/C Units except 2 have been replaced in last 3 years -Brand new roof as of 2021 -All units but 3 have been renovated including new and refurbished appliances -Entire parking lot has been upgraded to concrete -Plan in place to continue increasing rent -Proposed rent increases will result in $216k annual gross income -Down the street from Walmart

Elementary School Middle School High School
Ramirez Elementary School Rio Hondo Junior High Rio Grande City H.S.
Price History
9/21/2021 Listed $2,000,000

General Features

Accessibility ADA Accessible
Appliances Electric Water Heater, Refrigerator, Stove/Range
Association Y/N No
Building Area Units Square Feet
Carport Y/N No
City Rio Grande City
Community Features None
Construction Materials Brick, HardiPlank Type
Cooling Central Air
County Starr
Directions WEST on US Hwy 83. Located on NORTH side of US Hwy 83 after North La Perica Street, before reaching N Blanca Rd.
Elementary School Ramirez
Elementary School District Rio Grande ISD
Energy Efficient None
Exterior Features None
Flooring Tile
Garage Y/N No
Grossincome 166144
High School Rio Grande City H.S.
High School District Rio Grande ISD
Interior Features Ceiling Fan(s), Microwave
Lot Size Square Feet 39770
Maintenanceexpense 7586
Middle/Junior High School Rio Hondo Junior High
Middle/Junior School District Rio Grande ISD
Other Structures Outbuilding (None)
Possession Closing and Funding
Property SubType Apartment Complex
Property Type Residential Income
Roof Shingle
Sewer City Sewer
Standard Status Pending
Status Pending
Street Name US Highway 83
Subdivision Name Porcion 82 Nicolas Vela
Tax Annual Amount 29886
Tax Year 2021
Total Units 32
Year Built 2005

Interior Features

Air Conditioning Y/N Yes
Laundry Features None
Living Area 26770
Living Area Units Square Feet
Livingareasource Seller Measured

Exterior Features

Building Area Total 26770
Fencing None
Foundation Details Slab
Lot Size Acres 0.91299
Lot Size Area 39770
Lot Size Units Square Feet
Number of Buildings 5
Parking Features No Garage
Pool YN No
Road Surface Type Paved

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 78582

Price
AVG $260K
$2M
Taxes
AVG $3,103
$29,886
Visits
AVG 58
28
Year Built
AVG 1983
2005
Walkscore
AVG 25
28
Data Provided by Walkscore ® not using MLS data

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