414 San Mateo Ave La Joya, TX 78560
- Residential income homes
- 73,200 SF
Current Use by Public Records
- Residential income homes
Property Details for 414 San Mateo Ave
- Year built
- 2023
- Property size
- 73,200 SF
- Property type
- Residential income homes
- Property subtype
- Apartment buildings
Description
This exceptional investment opportunity presents a portfolio of 53 Class A townhomes, totaling 73,200 square feet, situated in La Joya, Texas, within Hidalgo County. Built in 2023, this single-story complex boasts a 9.15% cap rate and a current NOI of $869,000, with a pro-forma NOI of $720,000. The asking price is $9,500,000, translating to $179,245.28 per unit and $129.78 per square foot. Each unit is currently leased, offering immediate income generation. The property is located at 414 San Mateo Ave, La Joya, TX 78560, and benefits from its prime location within a desirable neighborhood known for strong property values and high tenant demand. This turnkey investment provides a stable and consistent revenue stream, making it an attractive addition to any diversified portfolio. The property's high-quality construction ensures low maintenance and long-term value. The location offers convenient access to employment centers, cultural attractions, dining, and shopping, further enhancing its appeal to tenants. This is a rare opportunity to acquire a well-performing, fully occupied multifamily asset in a thriving Texas market.
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
- -98.4868
- Latitude
- 26.2452
