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    860 Florida Ave Mercedes, TX 78570

    For Sale
    $225,000

    Two-unit apartment building, updated, great location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional two-unit apartment building, located at 860 Florida Avenue in Mercedes, Texas, presents a compelling investment opportunity. Built in 1992, this property boasts a classic brick exterior and sits on a spacious 9,270 square foot lot. Recent upgrades include a brand-new roof and new central air conditioning systems in both units, ensuring energy efficiency and reduced maintenance costs. The interior features newly updated flooring throughout. The property's multifamily configuration offers flexibility

    Property Features for 860 Florida Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1992
    Buildings
    1
    Units
    2

    HighLights

    • Exceptional two‑unit apartment building investment opportunity in Mercedes, Texas.
    • 1992 construction, classic brick exterior, situated on a 9,270 sq ft lot.
    • Recent upgrades include a new roof and new central AC systems in both units.
    • Features newly updated flooring throughout.
    • Multifamily configuration offers flexible options.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Map

    City
    Mercedes
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.908559
    Latitude
    26.1431739

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    FAQs

    What type of property is this?
    Multifamily property - Two-unit apartment building, updated, great location.
    Where is this multifamily property located?
    The property is located at 860 Florida Ave Mercedes, TX.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Exceptional two-unit apartment building investment opportunity in Mercedes, Texas.; 1992 construction, classic brick exterior, situated on a 9,270 sq ft lot.; Recent upgrades include a new roof and new central AC systems in both units.
    Request Owner's contact information
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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
    860 Florida Ave Mercedes, TX 78570
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