Lore Dr Weslaco, TX 78599

Property Details for 0 Lore Dr

Year built

2023

Property size

3,752 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a four-unit apartment building located at 1412 Lore Drive, Weslaco, Texas, 78599. The property, built in 2023, consists of two buildings, each featuring two one-story units. The total square footage is 3,752 square feet, situated on a 9,639 square foot lot. Currently boasting 100% occupancy, the property generates a substantial net operating income (NOI) of $35,696 annually, representing a 7.21% cap rate. Each of the four units is a two-bedroom, two-bathroom apartment, with two units renting for $1,050 per month and two renting for $1,100 per month. This translates to a gross monthly income of $4,300. The asking price is $495,000, or $123,750 per unit, and the price per square foot is $131.93. The land value alone is $11.41 per square foot. The property is zoned for multi-family use and is conveniently located less than five minutes from Expressway 83, the nearest school, and the nearest shopping area. This turnkey investment offers immediate cash flow and strong potential for future appreciation. The property is offered at 100% ownership. This is a rare opportunity to acquire a high-performing, newly constructed multifamily property in a desirable location.