1417 Prosperity Dr Edinburg, TX 78541

Property Details for 1417 Prosperity Dr

Year built

2003

Property type

Small apartment buildings

Description

This exceptional multifamily investment property, located at 1417 Prosperity Drive in Edinburg, Texas, presents a compelling opportunity for investors. The property consists of two buildings, each housing a portion of the four rental units, all currently occupied. Built in 2003, the property sits on a spacious 9,662 square foot lot. Recent renovations have significantly enhanced the property's value and appeal. All four units boast fresh paint on walls, trim, cabinets, and doors, along with updated fixtures. Exterior improvements include repainted parking covers, refurbished trashcan enclosures, and power washing. Furthermore, three air conditioning units have been recently replaced, ensuring tenant comfort and minimizing maintenance concerns. The property's prime location offers convenient access to the University of Texas Rio Grande Valley (UTRGV) and Expressway 281, enhancing its rental potential and attracting a stable tenant base. Priced at $339,900, this property represents a strong value proposition in the thriving Edinburg market. The existing tenant base provides immediate cash flow, making this an ideal investment for both seasoned and aspiring real estate investors. This turnkey opportunity requires minimal immediate capital expenditure, allowing for a quick return on investment. The property's strong rental history and recent upgrades make it a low-risk, high-reward investment.