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    2525 Erie Ave McAllen, TX 78501

    For Sale
    $180,000

    Three-unit fixer-upper, great location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This 3-unit apartment building, located at 2525 Erie Avenue in McAllen, Texas, presents a compelling investment opportunity. Built in 1991, the property sits on a 7,000 square foot lot and comprises a single building. Each of the three units features two bedrooms and one bathroom, offering a solid foundation for rental income. The property is described as a fixer-upper, presenting potential for value enhancement through renovations and upgrades. Its convenient location near the intersection of 23rd and Expressway 83 in Hidalgo County, zip code 78501, offers easy access to major transportation routes and local amenities. The asking price is $180,000. Each unit also includes a small backyard area. This property is ideal for investors seeking a multifamily project with potential for significant return on investment. The property's location and unit configuration make it an attractive option for both long-term rental and potential short-term rental strategies. The existing structure provides a solid base for future improvements and customization.

    Property Features for 2525 Erie Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1991
    Buildings
    1
    Units
    3

    HighLights

    • Three‑unit apartment building in McAllen, TX.
    • Located on a 7,000 sq ft lot at 2525 Erie Avenue.
    • Built in 1991, each unit features two bedrooms and one bathroom.
    • Fixer‑upper with value‑add potential.
    • Convenient location near Expressway 83; asking price $180,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Gym & Fitness Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    McAllen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2491172
    Latitude
    26.2012362

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    FAQs

    What type of property is this?
    Multifamily property - Three-unit fixer-upper, great location.
    Where is this multifamily property located?
    The property is located at 2525 Erie Ave McAllen, TX.
    What is the asking price?
    The asking price for this property is $180,000.
    What are key features of this property?
    This property features: Three-unit apartment building in McAllen, TX.; Located on a 7,000 sq ft lot at 2525 Erie Avenue.; Built in 1991, each unit features two bedrooms and one bathroom.
    Request Owner's contact information
    2525 Erie Ave McAllen, TX 78501
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    McAllen, TX 78501
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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
    2525 Erie Ave McAllen, TX 78501
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