212 Alex Ave La Joya, TX 78560
- Apartment buildings
- 9,642 SF
- 0.42 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 212 Alex Ave
- Year built
- 2022
- Lot size
- 0.42 lot acres
- Property size
- 9,642 SF
- Property type
- Apartment buildings
Description
This exceptional 8-unit apartment building, constructed in 2022, presents a compelling investment opportunity in the thriving La Joya, Texas market. Located at 212 Alex Ave, 78560, this Class A property boasts 9,642 square feet situated on a 0.42-acre lot. The building features two stories and offers a strong NOI of $80,808, translating to a 6.73% cap rate and a price per square foot of $124.46. Each of the eight units is priced at $150,000, with the entire property listed at $1,200,000. The property benefits from a high occupancy rate and stable income stream, thanks to its desirable location near major retailers and grocery stores, and convenient access to US Highway 83. Amenities include central air conditioning and in-unit washer/dryer connections. The property is offered fee simple and represents a stabilized investment with excellent potential for long-term growth in a rapidly expanding area of Hidalgo County. The fully covered parking area adds further value and convenience for residents. This is a turnkey opportunity for investors seeking a high-performing, low-maintenance multifamily asset in a dynamic market. The property's new construction and strong tenant base contribute to its exceptional value proposition.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- La Joya
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.486
- Latitude
- 26.2474
