121 Montevideo Ave Edinburg, TX 78541-2830

Property Details for 121 Montevideo Ave

Year built

1978

Lot size

0.32 lot acres

Property size

6,841 SF

Property type

Apartment buildings

APN

W3600-03-000-0021-00

APU

W360003000002100

Description

This exceptional investment opportunity presents a 20-unit apartment complex ideally situated in Edinburg, Texas, near the University of Texas Rio Grande Valley (UTRGV). Comprising two buildings constructed in 1978 and 1985, and renovated in 2015, this Class B property boasts a total of 15,367 square feet on a 0.594-acre lot. The property features 20 units, each with one bedroom and one bathroom, equipped with a refrigerator, stove, and microwave. The complex also includes two parking pads. Currently generating a Net Operating Income (NOI) of $79,031, resulting in a 7.90% capitalization rate, this value-add property offers significant upside potential. The asking price is $1,000,000, or $50,000 per unit. An assumable loan is available with a fixed interest rate of 6.25%, simplifying the acquisition process. The property is zoned RM and has the addresses 121 N Montevideo Ave, 301 N Montevideo Ave, and 120 E Schunior Street, all in Edinburg, TX 78541, with APNs 323966, 323969, and 164100. This is a fee simple ownership opportunity. Don't miss this chance to acquire a well-located, income-producing multifamily asset with an attractive cap rate and an assumable loan.