302 Sylvia Handy Dr Elsa, TX 78543
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 302 Sylvia Handy Dr
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a newly constructed, 32-unit apartment complex in Elsa, Texas. Located at 302 Sylvia Handy Dr, 78543, this Class B multifamily property offers a compelling combination of high occupancy (97%) and strong cash flow. The three buildings, each two stories high, comprise a mix of one and two-bedroom units, all featuring modern, energy-efficient designs and high-end finishes. The property's stabilized investment profile boasts a pro-forma NOI of $229,441 and a pro-forma cap rate of 5.46%. Priced at $4,200,000 ($131,250 per unit), this represents a rare chance to acquire a well-maintained, high-performing asset in a rapidly growing area of Hidalgo County. The property's prime location benefits from increased demand for housing driven by the development of new businesses and shopping centers in the neighborhood. Minimal maintenance is required due to the property's new construction status, further enhancing its appeal to investors seeking a low-risk, high-return investment. The consistent rental income generated by the near-full occupancy ensures a stable cash flow from day one, making this a truly attractive opportunity for discerning investors.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Elsa
- County
- Hidalgo
- State
- Texas
- Longitude
- -97.9821
- Latitude
- 26.2904
