206 Albatross Ave Pharr, TX 78577
- Apartment buildings
- 3,744 SF
Current Use by Public Records
- Apartment buildings
Property Details for 206 Albatross Ave
- Year built
- 2013
- Property size
- 3,744 SF
- Property type
- Apartment buildings
- Property subtype
- Small apartment buildings
Description
This exceptional investment opportunity presents a fully leased, four-unit apartment complex situated at 206 W Albatross Avenue, Pharr, Texas, 78577. Built in 2013, this Class B property boasts a total of 3,744 square feet across two one-story buildings on an 11,904.95 square foot lot. The property features a mix of two and three-bedroom units, each equipped with a refrigerator, stove, and washer/dryer connections. Tenants enjoy spacious rooms, attractive ceilings, and patio areas. Currently operating at 100% occupancy (as of July 8, 2024), the property generates a Net Operating Income (NOI) of $30,307, representing a 7.58% cap rate. Pro-forma NOI is projected at $35,947, yielding an 8.99% cap rate. The asking price is $400,000, or $100,000 per unit, with a price per square foot of $106.84. The property includes eight parking spaces and is zoned for multifamily use. This stabilized investment offers a strong return and potential for future growth. The property is free and clear of any ground lease. This is a corporate-owned property with APN P9257-00-000-0005-00. The property is located in Hidalgo County.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pharr
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.1968
- Latitude
- 26.1324
