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    221 Mile 1 ¼ Dr Mission, TX 78574

    For Sale
    $1,700,000

    20-Unit Apartment Complex, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional multifamily investment opportunity presents a 20-unit apartment complex located at 221 W Mile 1 ½ N Drive, Palmview, TX 78574, within Hidalgo County. The property, listed at $1,700,000, comprises three buildings situated on a generous 2.69-acre lot. Constructed in 1992, this well-maintained complex offers a strong rental income stream. Each of the twenty units features two bedrooms and one bathroom, providing comfortable and functional living spaces for tenants. Recent upgrades include brand-new appliances and faucets installed throughout all three buildings, enhancing the appeal and value of the property. The stylish tile flooring adds a touch of elegance to each unit, contributing to a modern and attractive living environment. This property represents a compelling investment opportunity in a thriving Texas community, offering significant potential for long-term growth and return. The property's size and location make it an attractive option for both seasoned investors and those seeking to expand their real estate portfolio. The substantial lot size also presents potential for future development or expansion, further enhancing the investment's long-term value. This is a turnkey opportunity to acquire a well-maintained, income-producing multifamily property in a desirable location.

    Property Features for 221 Mile 1 ¼ Dr

    General Information

    Property type
    Multifamily properties
    Lot Size
    117,176 SF

    Building Details

    Year Built
    1992
    Buildings
    3
    Units
    20

    HighLights

    • 20‑unit multifamily property in Palmview, TX.
    • Listed at $1,700,000.
    • Three buildings on a 2.69‑acre lot.
    • Built in 1992, well‑maintained.
    • Each unit features two bedrooms and one bathroom.
    • Recent upgrades include new appliances and faucets.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Map

    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.3652671
    Latitude
    26.2514832

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    FAQs

    What type of property is this?
    Multifamily property - 20-Unit Apartment Complex, Prime Location
    Where is this multifamily property located?
    The property is located at 221 Mile 1 ¼ Dr Mission, TX.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: 20-unit multifamily property in Palmview, TX.; Listed at $1,700,000.; Three buildings on a 2.69-acre lot.
    Request Owner's contact information
    221 Mile 1 ¼ Dr 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
    221 Mile 1 ¼ Dr Mission, TX 78574
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