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    1631 Playa Dr Weslaco, TX 78596

    For Sale
    $505,000

    High-Yield Multifamily Property in Weslaco, TX

    Property size:
    4,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional investment opportunity presents a newly constructed fourplex located at 1631 Playa Drive, Weslaco, Texas, 78596. Boasting a desirable location within a gated community, this property offers a compelling combination of strong cash flow and future appreciation potential. The property comprises two 2-bedroom, 2-bathroom units and two 3-bedroom, 2-bathroom units, totaling 4,200 square feet of net rentable space on a 10,359.875 square foot lot. Built in 2023, the property is in excellent condition and features high-quality finishes throughout, including tile floors and quartz countertops. Each unit is equipped with modern kitchen appliances and a washer and dryer, enhancing tenant appeal and maximizing rental income. Individual water and electricity meters for each unit provide efficient utility management and cost allocation. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $37,860, translating to an attractive 7.50% capitalization rate. This turnkey investment is ideal for both seasoned and aspiring real estate investors seeking a stable, high-performing asset in a thriving Texas market. The property's two buildings are situated on a spacious lot, offering ample space and potential for future expansion or development. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location. Don't miss out on this exceptional investment opportunity.

    Property Features for 1631 Playa Dr

    General Information

    Property type
    Multifamily properties
    Square Feet
    4,200 SF

    Building Details

    Year Built
    2023
    Buildings
    2
    Units
    4

    HighLights

    • Newly constructed fourplex in gated Weslaco, TX community.
    • Four units total 4,200 sq ft of net rentable space on a 10,359.875 sq ft lot.
    • Unit mix: two 2/2s and two 3/2s; built in 2023 with high‑end finishes (tile, quartz).
    • 100% occupancy, generating $37,860 annual NOI and a 7.50% cap rate.
    • Individual utility meters for efficient management.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Map

    City
    Weslaco
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.9572347
    Latitude
    26.142436

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    FAQs

    What type of property is this?
    Multifamily property - High-Yield Multifamily Property in Weslaco, TX
    Where is this multifamily property located?
    The property is located at 1631 Playa Dr Weslaco, TX.
    What is the asking price?
    The asking price for this property is $505,000.
    What are key features of this property?
    This property features: Newly constructed fourplex in gated Weslaco, TX community.; Four units total 4,200 sq ft of net rentable space on a 10,359.875 sq ft lot.; Unit mix: two 2/2s and two 3/2s; built in 2023 with high-end finishes (tile, quartz).
    Request Owner's contact information
    1631 Playa Dr Weslaco, TX 78596
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    Weslaco, TX 78596
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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
    1631 Playa Dr Weslaco, TX 78596
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