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    421 Mile 1 Mercedes, TX 78570

    For Sale
    $500,000

    Four-unit apartment building, 1-acre lot, owner financing considered.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional investment opportunity presents a four-unit apartment building situated on a spacious one-acre lot in Mercedes, Texas. Constructed in 2022, the property offers significant potential for immediate income generation and future expansion. Currently configured as a four-unit complex, the property boasts a prime location just five minutes from the HEB grocery store and the heart of downtown Mercedes, ensuring convenient access to essential amenities and services. Its proximity to the expressway provides easy commuting for residents. The two-story building presents a unique opportunity for renovation and expansion. The seller possesses blueprints detailing plans to increase the unit count to a remarkable 22 units, showcasing the property's substantial growth potential. This presents a rare chance to acquire a multifamily property with significant upside. The seller is open to owner financing, making this an even more attractive proposition for discerning investors. The property's one-acre lot provides ample space for future development and expansion, further enhancing its long-term value. This is a turnkey investment ready for immediate income generation or substantial redevelopment. Don't miss this chance to secure a prime multifamily asset in a thriving Texas market.

    Property Features for 421 Mile 1

    General Information

    Property type
    Multifamily properties
    Lot Size
    43,560 SF

    Building Details

    Year Built
    2022
    Buildings
    1
    Units
    4
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Restaurant Law Firm Spa & Massage Dental Office Building Supply Auto Repair Shop Gym & Fitness Pharmacy Wholesale Shop Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Mercedes
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.8940085
    Latitude
    26.1567012

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    FAQs

    What type of property is this?
    Multifamily property - Four-unit apartment building, 1-acre lot, owner financing considered.
    Where is this multifamily property located?
    The property is located at 421 Mile 1 Mercedes, TX.
    What is the asking price?
    The asking price for this property is $500,000.
    Request Owner's contact information
    421 Mile 1 Mercedes, TX 78570
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    Mercedes, TX 78570
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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
    421 Mile 1 Mercedes, TX 78570
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