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    723 Tower Rd Alamo, TX 78516

    For Sale
    $799,950

    Eight-unit multifamily property, fully rented.

    Property size:
    7,812 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional investment opportunity presents a fully rented, eight-unit apartment building located at 723 N Tower Road in Alamo, Texas, 78516. Built in 2016, this well-maintained property boasts a total of 7,812 square feet across three buildings situated on a spacious 20,498.9 square foot lot. Each of the eight units is generously sized, featuring an open layout, large bedrooms, and a sizable island in the kitchen. The spacious design creates a comfortable and home-like atmosphere, exceeding typical apartment living expectations. The property's strong occupancy rate ensures immediate cash flow for the investor. The asking price for this turnkey investment is $799,950. This property is ideally located in Alamo, Hidalgo County, Texas, offering excellent potential for both rental income and future appreciation. The property's strong tenant base and desirable features make it a compelling investment opportunity in a thriving market. This is a must-see property for any serious investor seeking a stable and profitable addition to their portfolio. The property's location in Alamo, TX provides easy access to local amenities and services.

    Property Features for 723 Tower Rd

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,812 SF

    Building Details

    Year Built
    2016
    Buildings
    3
    Units
    8

    HighLights

    • Fully rented, eight‑unit apartment building in Alamo, TX.
    • 7,812 square feet on a 20,498.9 square foot lot; built in 2016.
    • Eight generously sized units with open layouts and large bedrooms.
    • Turnkey investment opportunity; asking price $799,950.
    • Strong occupancy rate ensures immediate cash flow.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Alamo
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.1097343
    Latitude
    26.1928737

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    FAQs

    What type of property is this?
    Multifamily property - Eight-unit multifamily property, fully rented.
    Where is this multifamily property located?
    The property is located at 723 Tower Rd Alamo, TX.
    What is the asking price?
    The asking price for this property is $799,950.
    What are key features of this property?
    This property features: Fully rented, eight-unit apartment building in Alamo, TX.; 7,812 square feet on a 20,498.9 square foot lot; built in 2016.; Eight generously sized units with open layouts and large bedrooms.
    Request Owner's contact information
    723 Tower Rd Alamo, TX 78516
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    Alamo, TX 78516
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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
    723 Tower Rd Alamo, TX 78516
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