1802 Norma Ln Edinburg, TX 78539

Property Details for 1802 Norma Ln

Year built

1984

Property size

3,920 SF

Property type

Commercial real estate

Description

This exceptional 4-unit apartment building in Edinburg, Texas, presents a compelling investment opportunity. Boasting a 100% occupancy rate, the property generates a substantial net operating income (NOI) of $36,480, translating to a strong 7.88% cap rate. The 3,920 square foot building, constructed in 1984 and renovated in 2021, sits on a spacious 15,459 square foot lot. Each of the four units is priced at $115,750, contributing to the overall asking price of $463,000. The property features recently updated kitchens with new cabinets, countertops, and stainless steel appliances. Bathrooms have been remodeled with sleek fixtures and elegant tiling. New plumbing, electrical systems, and air conditioning units ensure efficiency and low maintenance costs. The building's Class B designation reflects its quality and appeal to renters. This stabilized investment offers immediate cash flow and significant depreciation benefits, making it an attractive addition to any portfolio. Located in Hidalgo County, at 1802 Norma Ln, Edinburg, TX 78539, this property benefits from its location in a growing market, promising strong appreciation potential. The property's single-story design and fully leased status minimize management complexities and maximize return on investment.