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    609 St. Marie Ave Mission, TX 78574

    For Sale
    $315,000

    High-Yield 3-Unit Apartment Building

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional three-unit apartment building in Mission, Texas, presents a compelling investment opportunity. Built in 2004, the property sits on a sizable 7,500 square foot lot and comprises a single building housing three spacious units, each boasting 1,100 square feet of living space. Each unit features two bedrooms and one bathroom, currently leased at $750 per month, generating a substantial gross annual income of $27,000. The property benefits from recently completed roof and exterior paint, minimizing immediate maintenance needs. The well-designed units include spacious living rooms and fully equipped kitchens, ensuring high tenant satisfaction and consistent occupancy. The property's location in Mission, TX, at 609 N St. Marie Avenue, 78574, offers convenient access to local amenities and a strong rental market. This turnkey investment is ideal for both seasoned investors seeking a stable income stream and newcomers looking to enter the lucrative multifamily market. The asking price of $315,000 represents an attractive entry point for a property with proven rental performance and significant upside potential. The combination of strong rental income, recent improvements, and desirable location makes this a truly exceptional investment opportunity.

    Property Features for 609 St. Marie Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    2004
    Buildings
    1
    Units
    3

    HighLights

    • Asking price: $315,000
    • Three‑unit multifamily property (Triplex) built in 2004
    • Located at 609 N St. Marie Avenue, Mission, TX 78574, on a 7,500 sq ft lot
    • Each unit features 2 bedrooms, 1 bathroom, and approximately 1,100 sq ft; currently leased at $750/month, generating $27,000 in gross annual income.
    • Recently updated roof and paint.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Map

    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.3745717
    Latitude
    26.3395537

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    FAQs

    What type of property is this?
    Multifamily property - High-Yield 3-Unit Apartment Building
    Where is this multifamily property located?
    The property is located at 609 St. Marie Ave Mission, TX.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: Asking price: $315,000; Three-unit multifamily property (Triplex) built in 2004; Located at 609 N St. Marie Avenue, Mission, TX 78574, on a 7,500 sq ft lot
    Request Owner's contact information
    609 St. Marie Ave Mission, TX 78574
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    Mission, TX 78574
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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
    609 St. Marie Ave Mission, TX 78574
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