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    5007 Us Highway 83 Rio Grande City, TX 78582

    For Sale
    $1,899,900

    32-Unit Apartment Complex, High ROI Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 32-unit apartment building in Rio Grande City, Texas, presents a compelling investment opportunity. Located at 5007 E US Highway 83, zip code 78582, this property boasts five buildings situated on a substantial 39,769.84 square foot lot. Constructed in 2005, the complex has undergone significant renovations within the last four years, enhancing its value and appeal. These improvements include complete roof replacements (completed in 2021), updated air conditioning units in select units, and renovations to several units featuring new or refurbished appliances. The parking area has also been upgraded. The property's strong rental demand is fueled by the region's rapid growth and development, offering a solid foundation for future income growth. While current income is steadily increasing, there remains significant potential for further rent increases. Its convenient location offers close proximity to local shopping and dining options, adding to its attractiveness for tenants. This multifamily investment presents a rare chance to acquire a well-maintained, high-performing asset in a thriving Texas market. The property's recent upgrades, coupled with the robust rental market, promise a significant return on investment.

    Property Features for 5007 Us Highway 83

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    2005
    Buildings
    5
    Units
    32

    HighLights

    • $1,899,900 asking price for a 32‑unit multifamily apartment building.
    • Located at 5007 E US Highway 83, Rio Grande City, TX 78582.
    • Built in 2005, consisting of 5 buildings on a 39,769 sq ft lot.
    • Recent renovations include roof replacement (2021), AC unit upgrades, parking area improvements, and appliance upgrades in select units.
    • Strong rental demand in a rapidly growing area with potential for rent increases.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Rio Grande City
    County
    Starr
    State
    Texas
    Longitude
    -98.7839459
    Latitude
    26.3603459

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    FAQs

    What type of property is this?
    Multifamily property - 32-Unit Apartment Complex, High ROI Potential
    Where is this multifamily property located?
    The property is located at 5007 Us Highway 83 Rio Grande City, TX.
    What is the asking price?
    The asking price for this property is $1,899,900.
    What are key features of this property?
    This property features: $1,899,900 asking price for a 32-unit multifamily apartment building.; Located at 5007 E US Highway 83, Rio Grande City, TX 78582.; Built in 2005, consisting of 5 buildings on a 39,769 sq ft lot.
    Request Owner's contact information
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    Rio Grande City, TX 78582
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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
    5007 Us Highway 83 Rio Grande City, TX 78582
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