303 Ridge Ln San Juan, TX 78589
- Small apartment buildings
Current Use by Public Records
- Small apartment buildings
Property Details for 303 Ridge Ln
- Year built
- 2012
- Property type
- Small apartment buildings
Description
This exceptional investment opportunity presents a four-unit apartment building located at 303 S Ridge Ln, San Juan, TX 78589, in Hidalgo County. Built in 2012, this single-story property sits on a spacious 11,464.99 square foot lot. The building features four units, offering a price per unit of $111,250. Two units boast recently painted interiors, complete with two bedrooms, two bathrooms, fully equipped kitchens, and in-unit washers and dryers, retaining their original finishes. The remaining two units are in their original condition, presenting a canvas for renovation and customization to increase rental income. A convenient carport provides parking for up to eight vehicles. The property's strategic location near schools, shopping centers, and major highways ensures high occupancy rates and ease of access for tenants. The current Net Operating Income (NOI) stands at $4,120, resulting in a 0.93% capitalization rate. This property is ideal for investors seeking a strong return on investment or for those interested in a house-hacking strategy. The asking price for this multifamily property is $445,000. This is a turnkey opportunity to acquire a well-located, income-generating asset in a thriving Texas market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Juan
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.152847098484
- Latitude
- 26.226973588805
