Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1303 Lore Dr Weslaco, TX 78599

    Sponsored
    For Sale
    $485,000

    Brand-new, fully leased fourplex in gated community.

    Property size:
    3,988 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    This exceptional investment opportunity presents a brand-new, fully leased fourplex located at 1303 Lore Drive, Weslaco, Texas, 78599. Built in 2022, this property boasts a total of 3,988 square feet situated on a 9,980 square foot lot within Verona, a gated community. The property consists of two buildings housing four individual units, providing a consistent income stream. Its prime location offers convenient access to major shopping centers, grocery stores, and a diverse selection of restaurants, ensuring high tenant demand and occupancy rates. All units come fully equipped with appliances, minimizing maintenance concerns and maximizing rental income. The asking price for this turnkey investment is $485,000. This property represents a rare chance to acquire a high-performing, low-maintenance multifamily asset in a thriving Texas market. Don't miss this opportunity to expand your investment portfolio with a property that offers immediate returns and significant long-term potential. The property is ideally situated in Hidalgo County, providing easy access to major transportation routes and amenities. This fully leased fourplex offers a secure and profitable investment opportunity.

    Property Features for 1303 Lore Dr

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,988 SF

    Building Details

    Year Built
    2022
    Buildings
    2
    Units
    4

    We can help!

    Listing Contact
    Bryanna Hernandez

    Learn more

    HighLights

    • $485,000 asking price for a four‑unit apartment building.
    • Multifamily property with four units in a duplex/triplex/quadruplex configuration.
    • 3,988 square feet on a 9,980 square foot lot.
    • Built in 2022 with two buildings.
    • Located at 1303 Lore Drive, Weslaco, TX 78599.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Map

    City
    Weslaco
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.9613208
    Latitude
    26.175952

    Nearby Similar for Sale

    • $900,000
      3,100 SF

      Turnkey Restaurant & Entertainment Space

      3,100 SF restaurant ready for immediate operation in Weslaco, TX.
      1015 S International Blvd, Weslaco, TX 78596
      View Details
    • $727,000
      5,243 SF

      Medical Building Near Knapp Medical

      Medical building next to Knapp Medical Center in Weslaco, TX.
      1412 E 8Th St, Weslaco, TX 78596
      View Details
    • $478,000
      3,900 SF

      New Fourplex in Gated Subdivision

      Recently built fourplex in Weslaco with modern amenities and strong income.
      1312 Lore Dr, Weslaco, TX 78599
      View Details
    • New
      $469,999
      4,080 SF

      New Weslaco Fourplex Investment Opportunity

      New construction fourplex in gated community near entertainment and shopping.
      700 Oriole Rd, Weslaco, TX 78596
      View Details
    • $478,000
      3,990 SF

      New Fourplex in Gated Subdivision

      Recently built fourplex in Weslaco with steady rental demand.
      1303 Marcela Dr, Weslaco, TX 78599
      View Details
    • $460,000
      3,900 SF

      New Fourplex in Gated Subdivision

      Recently built fourplex in Weslaco, TX with modern amenities.
      1403 Marcela Dr, Weslaco, TX 78599
      View Details
    • $499,000
      4,226 SF

      New Fourplex in Gated Community

      New fourplex in Weslaco's Rio Meadows, a turnkey investment.
      3121 Briggs St, Weslaco, TX 78596
      View Details
    • New
      $470,000
      3,900 SF

      New Fourplex in Gated Subdivision

      Recently built fourplex in Weslaco with strong rental appeal.
      1404 Lore Dr, Weslaco, TX 78599
      View Details
    • New
      $485,000
      4,200 SF

      Modern Fourplex Investment Opportunity

      Four-unit property in Weslaco, TX, fully leased and near amenities.
      1626 Playa Dr, Weslaco, TX 78596
      View Details
    • $479,000
      4,200 SF

      New Fourplexes in Weslaco, TX

      Modern fourplexes with immediate income potential in a growing area.
      2714 Primrose Dr, Weslaco, TX 78596
      View Details
    • New
      $469,000
      4,080 SF

      New Gated Fourplex Community

      New fourplex community with modern finishes and spacious layouts.
      612 Oriole Rd, Weslaco, TX 78596
      View Details
    • $469,000
      4,200 SF

      Weslaco Fourplex Investment Opportunity

      Well-maintained fourplex in Weslaco with strong rental income potential.
      1801 Jackson St, Weslaco, TX 78599
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Brand-new, fully leased fourplex in gated community.
    Where is this multifamily property located?
    The property is located at 1303 Lore Dr Weslaco, TX.
    What is the asking price?
    The asking price for this property is $485,000.
    What are key features of this property?
    This property features: $485,000 asking price for a four-unit apartment building.; Multifamily property with four units in a duplex/triplex/quadruplex configuration.; 3,988 square feet on a 9,980 square foot lot.
    Request Owner's contact information
    1303 Lore Dr Weslaco, TX 78599
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1303 Lore Dr
    Weslaco, TX 78599
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1303 Lore Dr Weslaco, TX 78599
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Bryanna Hernandez
    Learn more
    Google sign-in failed. Please try again or use another login method.