203 Campeche Ave Alton, TX 78573

Property Details for 203 Campeche Ave

Year built

2024

Property size

4,034 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents two brand-new, four-unit multifamily properties located at 203 W Campeche Ave and 159 W Campeche Ave in Alton, Texas, 78573. The properties, totaling eight units, are situated on a combined 9,750 square foot lot and boast a total of 4,034 square feet of net rentable space. Currently, two of the eight units are leased, with ongoing leasing efforts for the remaining units. Built in 2024, these Class B properties feature attractive amenities including stainless steel appliances, quartz countertops, in-unit washer/dryer hookups, and window coverings. Each unit also includes a high-kitchen bar, walk-in closets, and a private yard. The properties are part of the gated La Hacienda community (gates forthcoming), offering residents a secure and desirable living environment. The strategic location near McAllen, Texas, and the University of Texas (approximately 15 minutes away) ensures strong rental demand. The area also offers convenient access to shopping, dining, schools, parks, and entertainment. The asking price is $519,900, representing a price per unit of $129,975 and a price per square foot of $128.88. The current NOI is $44,704, yielding an 8.52% cap rate and a pro-forma cap rate of 7.87%. The properties come with a one-year builder warranty, providing peace of mind for the investor. This is a rare opportunity to acquire a high-quality, partially leased multifamily portfolio in a rapidly growing market. The Hidalgo County location and proximity to amenities make this an ideal investment for both short-term and long-term growth.

Location Insight

City

Alton

County

Hidalgo

State

Texas

Longitude

-98.3173

Latitude

26.2914