5007 Us Highway 83 Rio Grande City, TX 78582
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 5007 Us Highway 83
- Year built
- 2005
- Property type
- Commercial real estate
Description
This exceptional 32-unit apartment building in Rio Grande City, Texas, presents a compelling investment opportunity. Located at 5007 E US Highway 83, zip code 78582, this property boasts five buildings situated on a substantial 39,769.84 square foot lot. Constructed in 2005, the complex has undergone significant renovations within the last four years, enhancing its value and appeal. These improvements include complete roof replacements (completed in 2021), updated air conditioning units in select units, and renovations to several units featuring new or refurbished appliances. The parking area has also been upgraded. The property's strong rental demand is fueled by the region's rapid growth and development, offering a solid foundation for future income growth. While current income is steadily increasing, there remains significant potential for further rent increases. Its convenient location offers close proximity to local shopping and dining options, adding to its attractiveness for tenants. This multifamily investment presents a rare chance to acquire a well-maintained, high-performing asset in a thriving Texas market. The property's recent upgrades, coupled with the robust rental market, promise a significant return on investment.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rio Grande City
- County
- Starr
- State
- Texas
- Longitude
- -98.7839459
- Latitude
- 26.3603459
