1001 Owassa Rd Edinburg, TX 78542-3064
Property profile & analytics
1001 Owassa Rd Edinburg, TX 78542-3064
- Apartment buildings
- 7,800 SF
- 2.69 lot acres
Property ID
US83-0997477
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 1001 Owassa Rd
- Year built
- 2016
- Lot size
- 2.69 lot acres
- Property size
- 7,800 SF
- Property type
- Apartment buildings
- APN
- R4080-00-000-0001-00
- APU
- R408000000000100
Description
This exceptional 28-unit apartment building, situated on a 2.686-acre lot at 1001 E Owassa Road in Edinburg, Texas, presents a compelling investment opportunity. Constructed in 2017-2018, the property comprises fourteen duplex buildings, each meticulously maintained and currently boasting 100% occupancy. The strategic location offers unparalleled convenience, just one minute from Expressway 281 and within minutes of major shopping centers, schools, and entertainment venues. This prime location is in the heart of the rapidly expanding McAllen-Edinburg-Mission Metropolitan area, ensuring strong rental demand. The property's financial performance is equally impressive, generating a 2023 gross income of $253,150 and a net operating income (NOI) of $215,155.21. This consistent, high occupancy rate demonstrates the property's inherent value and its ability to generate substantial returns. The units themselves are well-appointed, featuring modern layouts and appliances, appealing to a wide range of renters. Recent updates include new roofs on all buildings, further enhancing the property's long-term value and minimizing maintenance concerns. This turnkey investment is ready to generate immediate income, offering a secure and profitable addition to any portfolio. The zip code is 78542. Appliances are included in the sale.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $495,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $611,000
Market price range: $357k - $612k -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $465,000 Current use
- RETAIL STORES
- $880,000 Change: +89% Conversion: Difficult
- MEDICAL BUILDING
- $770,000 Change: +65% Conversion: Moderate
- WAREHOUSE, STORAGE
- $585,000 Change: +26% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Edinburg
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.1627
- Latitude
- 26.2469
- CBSA code
- 32580
- CBSA name
- MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$32,550
$731,325
$518,675
$1,250,000
-
$731,325
$518,675
$1,250,000
