221 Albatross Ave Pharr, TX 78577

Exceptional investment opportunity: This fully leased four-plex apartment building in Pharr, Texas, presents a compelling opportunity for investors seeking strong returns. Located at 221 W Albatross Avenue, this property boasts a total of 3,744 square feet across two one-story buildings, built in 2013. The property features four units, a mix of two and three-bedroom apartments, each equipped with a refrigerator and stove, and washer/dryer connections. The units are highly desirable, offering spacious rooms, decorative ceilings, and patio areas. With eight parking spaces and situated on an 11,935 square foot lot, the property enjoys a 100% occupancy rate as of July 8, 2024, generating a current NOI of $32,461 and a pro-forma NOI of $35,941. This translates to a current cap rate of 8.12% and a pro-forma cap rate of 8.99%. The asking price is $400,000, or $100,000 per unit, representing a price per square foot of $106.84. The property is zoned for multifamily use and is classified as a Class B stabilized investment. The property is not subject to a ground lease and is held under corporate ownership. The Hidalgo County APN is P9257-00-000-0016-00. This is a turnkey investment ready to generate immediate income. Consider this a rare opportunity to acquire a high-demand, well-maintained property in a thriving market.