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    18202 Washington Palm Dr Penitas, TX 78576

    For Sale
    $435,000

    Six-unit apartment building, strong cash flow.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional investment opportunity presents a well-maintained six-unit apartment building located at 18202 Washington Palm Drive, Penitas, Texas, 78576. Built in 2004, this property sits on a substantial 21,783.92 square foot lot. The single building comprises six individual apartment units, currently boasting 100% occupancy and generating a stable monthly income of $4,500. The property benefits from a recently replaced roof, installed less than a year ago, minimizing immediate maintenance concerns. This turnkey investment is ideally situated in the thriving city of Penitas, Texas, offering significant potential for future growth and appreciation. The property's strong cash flow and low maintenance requirements make it an attractive option for both seasoned and novice investors seeking a reliable and profitable addition to their portfolio. The property's location in Hidalgo County provides easy access to local amenities and transportation networks. This is a rare opportunity to acquire a fully occupied, income-generating multifamily property in a rapidly developing area. Serious inquiries are encouraged to explore this promising investment prospect further.

    Property Features for 18202 Washington Palm Dr

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    2004
    Buildings
    1
    Units
    6

    HighLights

    • $435,000 asking price.
    • Six‑unit multifamily apartment building.
    • Built in 2004.
    • Located on a 21,783.92 sq ft lot in Penitas, TX.
    • Currently fully occupied, generating $4,500 monthly income.
    • Features a recently replaced roof.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Auto Repair Shop Wholesale Shop Skin Care Clinic Auto Parts Store Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Penitas
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.4431643
    Latitude
    26.3380755

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    FAQs

    What type of property is this?
    Multifamily property - Six-unit apartment building, strong cash flow.
    Where is this multifamily property located?
    The property is located at 18202 Washington Palm Dr Penitas, TX.
    What is the asking price?
    The asking price for this property is $435,000.
    What are key features of this property?
    This property features: $435,000 asking price.; Six-unit multifamily apartment building.; Built in 2004.
    Request Owner's contact information
    18202 Washington Palm Dr Penitas, TX 78576
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    Penitas, TX 78576
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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
    18202 Washington Palm Dr Penitas, TX 78576
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