1407 Lore Dr Weslaco, TX 78599
- Apartment buildings
- 3,988 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1407 Lore Dr
- Year built
- 2023
- Property size
- 3,988 SF
- Property type
- Apartment buildings
- Property subtype
- Small apartment buildings
Description
This exceptional investment opportunity presents a newly constructed (2023), four-unit apartment building located at 1407 Lore Drive, Weslaco, Texas, 78599. The property boasts a total of 3,988 square feet situated on a 9,639.82 square foot lot (APN: V3150-00-000-0022-00). The building consists of two single-story structures, each housing two units. The units are configured as two-bedroom, two-bathroom apartments. Currently, the occupancy rate is 50%, with two units generating rental income. The asking price is $495,000, translating to $123,750 per unit and a price per square foot of $124.12. The property's pro-forma net operating income (NOI) is $36,685, yielding a 7.41% pro-forma capitalization rate. Conveniently located near Expressway 83, this property offers easy access to schools and shopping centers. The property is zoned for multi-family use and features modern amenities including sleek quartz countertops in kitchens and bathrooms. This is a turnkey investment opportunity with significant potential for increased income and appreciation. Financial details are available upon request. This property is financed.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Weslaco
- County
- Hidalgo
- State
- Texas
- Longitude
- -97.9587
- Latitude
- 26.1761
