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    1909 Mile 2 Rd Mission, TX 78574

    For Sale
    $365,000

    Four-unit apartment complex, great rental history.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This Mission, Texas apartment building presents a compelling investment opportunity. Priced at $365,000, this property boasts four units situated on a 9,247.788 square foot lot. Built in 2001, the single-building complex includes two 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units, each approximately 700 square feet. The total living area is 2800 square feet. The property features a chain-link fence, covered canopy porch/carport, and includes stoves and refrigerators. Individual utility meters are in place: four electricity meters and one water meter. Safety features include smoke detectors. The property's tax legal description is T0940-03-000-01010-00, and it's zoned B1. This is Lot #101 and has a strong rental history. The seller owns three similar 4-plexes totaling twelve units, potentially suitable for a 1031 exchange transaction. This is a .21-acre lot.

    Property Features for 1909 Mile 2 Rd

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    2001
    Buildings
    1
    Units
    4

    HighLights

    • $365,000 asking price for a four‑unit apartment building.
    • Multifamily property located in Mission, TX, consisting of one building on a 9,247.78 sq ft lot.
    • Built in 2001, the property features two 2‑bedroom/1‑bathroom units and two 1‑bedroom/1‑bathroom units.
    • Includes four electric meters and one water meter. Total living area is approximately 2,800 sq ft.
    • Features a chain‑link fence, covered carport, and smoke detectors.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Pharmacy Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.3460171
    Latitude
    26.2472586

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    FAQs

    What type of property is this?
    Multifamily property - Four-unit apartment complex, great rental history.
    Where is this multifamily property located?
    The property is located at 1909 Mile 2 Rd Mission, TX.
    What is the asking price?
    The asking price for this property is $365,000.
    What are key features of this property?
    This property features: $365,000 asking price for a four-unit apartment building.; Multifamily property located in Mission, TX, consisting of one building on a 9,247.78 sq ft lot.; Built in 2001, the property features two 2-bedroom/1-bathroom units and two 1-bedroom/1-bathroom units.
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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
    1909 Mile 2 Rd Mission, TX 78574
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