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    1414 Michigan St Alton, TX 78573

    For Sale
    $525,000

    Eight-unit apartment complex, prime location.

    Property size:
    4,190 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional eight-unit apartment building presents a compelling investment opportunity in the thriving Alton, Texas market. Located on a quiet street in a rapidly growing neighborhood near Conway, this property offers unparalleled privacy for residents. The complex comprises four buildings, each meticulously constructed in 2024, boasting a total of 4,190 square feet on a spacious 9,719.97 square foot lot. The unit mix includes two three-bedroom apartments and two two-bedroom apartments, providing a diverse rental portfolio and maximizing income potential. The three-bedroom units feature a unique layout with two bedrooms on the ground floor and a third bedroom upstairs, enhancing their appeal to a wider range of tenants. This property's strategic location, combined with its modern construction and desirable unit configuration, ensures strong occupancy rates and consistent cash flow. The builder has additional fourplex units available, presenting further expansion possibilities for astute investors seeking to capitalize on this burgeoning market. This is a rare opportunity to acquire a high-performing multifamily asset in a prime location with significant long-term growth potential. The asking price is $525,000.

    Property Features for 1414 Michigan St

    General Information

    Property type
    Multifamily properties
    Square Feet
    4,190 SF

    Building Details

    Year Built
    2024
    Buildings
    4
    Units
    8

    HighLights

    • Eight‑unit apartment building in Alton, Texas.
    • Newly constructed in 2024, totaling 4,190 square feet on a 9,719.97 square foot lot.
    • Unit mix includes two 3‑bedroom and two 2‑bedroom apartments.
    • Prime location in a rapidly growing neighborhood near Conway.
    • Asking price: $525,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Alton
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.3274471
    Latitude
    26.2804227

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    FAQs

    What type of property is this?
    Multifamily property - Eight-unit apartment complex, prime location.
    Where is this multifamily property located?
    The property is located at 1414 Michigan St Alton, TX.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: Eight-unit apartment building in Alton, Texas.; Newly constructed in 2024, totaling 4,190 square feet on a 9,719.97 square foot lot.; Unit mix includes two 3-bedroom and two 2-bedroom apartments.
    Request Owner's contact information
    1414 Michigan St Alton, TX 78573
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    Alton, TX 78573
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1414 Michigan St Alton, TX 78573
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