1631 Playa Dr Weslaco, TX 78596
- Apartment buildings
- 4,200 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1631 Playa Dr
- Year built
- 2023
- Property size
- 4,200 SF
- Property type
- Apartment buildings
- Property subtype
- Small apartment buildings
Description
This exceptional investment opportunity presents a newly constructed fourplex located at 1631 Playa Drive, Weslaco, Texas, 78596. Boasting a desirable location within a gated community, this property offers a compelling combination of strong cash flow and future appreciation potential. The property comprises two 2-bedroom, 2-bathroom units and two 3-bedroom, 2-bathroom units, totaling 4,200 square feet of net rentable space on a 10,359.875 square foot lot. Built in 2023, the property is in excellent condition and features high-quality finishes throughout, including tile floors and quartz countertops. Each unit is equipped with modern kitchen appliances and a washer and dryer, enhancing tenant appeal and maximizing rental income. Individual water and electricity meters for each unit provide efficient utility management and cost allocation. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $37,860, translating to an attractive 7.50% capitalization rate. This turnkey investment is ideal for both seasoned and aspiring real estate investors seeking a stable, high-performing asset in a thriving Texas market. The property's two buildings are situated on a spacious lot, offering ample space and potential for future expansion or development. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location. Don't miss out on this exceptional investment opportunity.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Weslaco
- County
- Hidalgo
- State
- Texas
- Longitude
- -97.9572
- Latitude
- 26.1424
