300 Albatross Ave Pharr, TX 78577
- Apartment buildings
- 3,888 SF
Current Use by Public Records
- Apartment buildings
Property Details for 300 Albatross Ave
- Year built
- 2013
- Property size
- 3,888 SF
- Property type
- Apartment buildings
- Property subtype
- Small apartment buildings
Description
This exceptional investment opportunity presents a fully leased, four-unit apartment building situated at 300 W Albatross Avenue, Pharr, Texas, 78577. The property, built in 2013, boasts a total of 3,888 square feet across two one-story buildings on an 11,914 square foot lot. The property features a mix of two and three-bedroom units, each equipped with a refrigerator, stove, and washer/dryer connections. Amenities include ample parking (8 spaces) and private patio areas. Currently operating at 100% occupancy (as of July 8, 2024), the property generates a Net Operating Income (NOI) of $30,633, representing a 7.66% capitalization rate. The pro-forma NOI is $29,493, with a pro-forma cap rate of 7.37%. The asking price is $400,000, translating to $100,000 per unit and $102.88 per square foot. The property is classified as a Class B multifamily investment, zoned for multifamily use, and is offered as a corporate ownership. This stabilized investment offers a strong return and potential for future growth in the thriving Pharr market. The Hidalgo County location provides easy access to local amenities and transportation. This is a turnkey investment ideal for both seasoned and new investors seeking a high-demand rental property.
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
- Pharr
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.1976
- Latitude
- 26.1325
