815 15 Pl Edinburg, TX 78541
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 815 15 Pl
- Property type
- Apartment buildings
Description
This exceptional Class A, 80-unit apartment building in Edinburg, Texas, is offered for sale at $12,000,000. Boasting a pro-forma NOI of $753,216 and a 6.28% cap rate, this two-story property presents a compelling investment opportunity. Each of the 80 units is priced at $150,000, reflecting strong value in a rapidly growing market. Edinburg's economic outlook is exceptionally positive, fueled by the anticipated arrival of a Division One football team by Fall 2024. This influx of activity is projected to significantly increase property values and rental income. The property's prime location ensures high tenant demand and a stable income stream from a diverse tenant base. The existing infrastructure provides scalability for future expansion or development, maximizing long-term return on investment. This is a rare chance to acquire a substantial multifamily asset in a city poised for significant growth, offering both immediate income and substantial long-term appreciation potential. The property is located at 815 N 15th Place, Edinburg, TX 78541, in Hidalgo County.
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
- Edinburg
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.1565
- Latitude
- 26.3078
