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    3304 Palm Leaf Cir Mission, TX 78574

    For Sale
    $465,000

    Seven-unit apartment building, high rental potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional seven-unit apartment building, constructed in 2005, presents a compelling investment opportunity in Mission, Texas. Situated on a spacious 25,226 square foot lot at 3304 N Palm Leaf Circle, zip code 78574, this property offers a blend of immediate income and significant upside potential. The building comprises five two-bedroom, two-bathroom units and two one-bedroom, one-bathroom units, currently generating a gross operating income of $39,900 annually. Rents range from $625 to $700 per month, with potential for increased revenue through renovations and market adjustments to reach an estimated $55,800 annually. While some units require repairs and updates, the property boasts a brand-new roof, mitigating significant upfront costs. Ample parking is available for residents and guests. This property is ideally located in the Rio Grande Valley, offering a strong rental market and the potential for substantial returns on investment. The property's size and unit mix provide flexibility for various investment strategies, making it an attractive option for both seasoned investors and those seeking to enter the multifamily market. This is a turnkey opportunity to acquire a well-located multifamily property with immediate cash flow and significant value-add potential.

    Property Features for 3304 Palm Leaf Cir

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    2005
    Buildings
    1
    Units
    7

    HighLights

    • $465,000 asking price for a 7‑unit multifamily apartment building.
    • Located at 3304 N Palm Leaf Circle, Mission, TX 78574.
    • Built in 2005, featuring one building on a 25,226 sq ft lot.
    • Property includes five 2‑bedroom/2‑bathroom units and two 1‑bedroom/1‑bathroom units.
    • Current gross operating income is $39,900 annually, with potential to reach $55,800.
    • Features a brand new roof; some units require repairs and updates.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Restaurant Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon Auto Parts Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.3593137
    Latitude
    26.2758709

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    FAQs

    What type of property is this?
    Multifamily property - Seven-unit apartment building, high rental potential.
    Where is this multifamily property located?
    The property is located at 3304 Palm Leaf Cir Mission, TX.
    What is the asking price?
    The asking price for this property is $465,000.
    What are key features of this property?
    This property features: $465,000 asking price for a 7-unit multifamily apartment building.; Located at 3304 N Palm Leaf Circle, Mission, TX 78574.; Built in 2005, featuring one building on a 25,226 sq ft lot.
    Request Owner's contact information
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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
    3304 Palm Leaf Cir Mission, TX 78574
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