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    3019 Mile 11 Weslaco, TX 78599

    For Sale
    $1,450,000

    16-Unit Apartment Complex, High Growth Area

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 16-unit apartment complex presents a compelling investment opportunity in the rapidly developing Hidalgo, Texas area. Situated on a spacious 2-acre lot at 3019 E Mile 11, Weslaco, TX 78599, this property comprises eight individual buildings constructed in 2009. The complex offers significant upside potential, with room for rental increases despite already steadily growing income. All appliances are included in the sale. The property's prime location provides convenient access to essential amenities, including grocery stores, restaurants, Pinos Hardware Store, and major roadways like Mile 11 and Farm Road 1015. Strong rental demand in this high-growth region makes this an ideal investment for those seeking substantial returns. The asking price is $1,450,000. This property is particularly well-suited for 1031 exchange buyers looking for a strong, income-producing asset in a thriving market. The property's location in Hidalgo County, Texas, offers investors exposure to a dynamic and expanding region. The existing infrastructure and proximity to key services further enhance the property's appeal and potential for long-term growth. This is a rare chance to acquire a well-maintained, income-generating multifamily property with considerable potential for appreciation.

    Property Features for 3019 Mile 11

    General Information

    Property type
    Multifamily properties
    Lot Size
    87,120 SF

    Building Details

    Year Built
    2009
    Buildings
    8
    Units
    16

    HighLights

    • $1,450,000 asking price.
    • Multifamily property with 16 units.
    • Eight buildings on a two‑acre lot.
    • Built in 2009.
    • Located in Hidalgo, TX, near amenities and major roadways.
    • Strong rental demand and upside potential for rent increases.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Weslaco
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.9621661
    Latitude
    26.2145481

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    FAQs

    What type of property is this?
    Multifamily property - 16-Unit Apartment Complex, High Growth Area
    Where is this multifamily property located?
    The property is located at 3019 Mile 11 Weslaco, TX.
    What is the asking price?
    The asking price for this property is $1,450,000.
    What are key features of this property?
    This property features: $1,450,000 asking price.; Multifamily property with 16 units.; Eight buildings on a two-acre lot.
    Request Owner's contact information
    3019 Mile 11 Weslaco, TX 78599
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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
    3019 Mile 11 Weslaco, TX 78599
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