12638 33Rd Ln McAllen, TX 78504
- Commercial real estate
- 4,180 SF
Current Use by Public Records
- Magnolia rentals / Apartment Complex
Property Details for 12638 33Rd Ln
- Year built
- 2024
- Property size
- 4,180 SF
- Property type
- Commercial real estate
Description
Exceptional investment opportunity: a brand-new, fully leased fourplex in McAllen, Texas's desirable Eldorado Estates gated community. This stabilized property boasts a 7.84% cap rate and a strong net operating income (NOI) of $41,940. The property comprises two buildings, each housing two units. Two units offer 2 bedrooms and 2 bathrooms, each spanning 915 square feet, while the other two units feature 3 bedrooms, 2 bathrooms, and 1,115 square feet each. Totaling 4,180 square feet, the property sits on a 10,400 square foot lot and includes 8 parking spaces. High-end finishes throughout include decorative recessed ceilings, stainless steel appliances (refrigerators, microwaves, and ranges), washers, dryers, and window coverings. The property is ideally located near quality schools, various amenities (coffee shops, supermarkets, restaurants, entertainment venues), and a major university. The asking price is $535,000, representing a price per unit of $133,750 and a price per square foot of $127.99. This turnkey investment offers immediate cash flow and significant potential for long-term appreciation in a thriving Texas market. Built in 2024, this property is zoned for multi-family residential use. The community is conveniently located within 5 minutes of Tres Lagos and its recreational facilities.
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
- McAllen
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.2322355
- Latitude
- 26.2892001
