Newer 8-Unit Apartment
7601 N Fm 88, Weslaco, TX 78599
Turnkey 2023-built gated multifamily with eight 3-bedroom units and private balconies.
Type:Multifamily
Property size:
12,120 SFPrice / SF:
$99/SF- Added:
- Jun 17, 2026
- Days on Market:
- 14
- Last Refresh:
- Jun 24 at 5:33 am
Property Features for 7601 N Fm 88
General Information
- Standard status
- Active
- Size
- 12,120 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2023
Listing office eXp Realty
Listing date Jun 17, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty
HighLights
- 2023‑built, fully fenced and gated 8‑unit apartment complex designed for long‑term rentals
- Each unit offers 3 bedrooms, 2 bathrooms, and over 1,500 SF of living space
- Private balconies included with each unit
- Quality finishes: porcelain tile flooring, granite countertops, and plantation shutters
- Shared outdoor area includes a Rainbow play set
- Located just off FM 88 between Elsa and Weslaco with access to employers, schools, shopping, and Walmart/Dollar Tree/CVS
Overview
This 2023-built apartment complex offers eight residential units within a fully fenced and gated setting. Each unit provides a 3-bedroom, 2-bath layout with private balconies, supported by quality interior finishes including porcelain tile flooring, granite countertops, and plantation shutters. The property also includes a shared outdoor area featuring a Rainbow play set.
Located just off FM 88 between Elsa and Weslaco, the complex is positioned for convenient access to major employers, schools, shopping, and dining. Nearby retail options referenced in the remarks include Walmart, Dollar Tree, and CVS.
The unit mix makes the property well-suited for tenants seeking larger, family-oriented floorplans, with in-unit comforts and finishes designed to support day-to-day livability. For buyers, the combination of eight separate apartment units, newer construction, and a gated perimeter offers a straightforward multifamily holding built around consistent residential appeal.
Located just off FM 88 between Elsa and Weslaco, the complex is positioned for convenient access to major employers, schools, shopping, and dining. Nearby retail options referenced in the remarks include Walmart, Dollar Tree, and CVS.
The unit mix makes the property well-suited for tenants seeking larger, family-oriented floorplans, with in-unit comforts and finishes designed to support day-to-day livability. For buyers, the combination of eight separate apartment units, newer construction, and a gated perimeter offers a straightforward multifamily holding built around consistent residential appeal.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $200.7k | $16.56 |
| − Vacancy | −$23.3k | −$1.92 |
| EGI | $177.4k | $14.64 |
| − OpEx | −$79.8k | −$6.59 |
| NOI | $97.6k | $8.05 |
12,120 SF · lease $16.56/SF/yr · vacancy 11.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.39M
$1.22M – $1.63M
NOI $97,584 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$9.13M
$7.99M – $10.65M
NOI $639,027 @ 7.0% cap · market cap 53.25%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Weslaco
- County
- Hidalgo
- State
- Texas
- Longitude
- -97.992755
- Latitude
- 26.229733
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Turnkey 2023-built gated multifamily with eight 3-bedroom units and private balconies.
Where is this apartment building located?
The property is located at 7601 N Fm 88 Weslaco, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2023‑built, fully fenced and gated 8‑unit apartment complex designed for long‑term rentals; Each unit offers 3 bedrooms, 2 bathrooms, and over 1,500 SF of living space; Private balconies included with each unit
