Technical
Financial
Distress signals
Property profile

6505 Lima Ln Mission, TX 78574

OFF-MARKET
Apartment buildings
Property ID
US82-0894442
4,056 SF 0.51 ac lot Built 2008
Individually Owned 3-yr Hold
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Property summary

AI-generated overview

This exceptional five-unit apartment building, constructed in 2008, presents a compelling investment opportunity in the desirable Mission, Texas market. Located at 6505 Lima Lane, this property boasts a substantial 4,056 square feet of living space spread across its five units. Situated on a generous 21,999.978 square foot lot, the property enjoys a prime location just off La Homa Road in the Mission-Alton area. Currently operating at full occupancy with a waiting list, this property demonstrates strong rental demand due to its affordable rates. The significant lot size offers considerable potential for future expansion, allowing for the addition of more rental units or even the development of a commercial space along the highly trafficked La Homa Road. This property represents a rare blend of immediate income generation and long-term growth potential, making it an ideal investment for discerning buyers seeking a stable and appreciating asset in a thriving Texas market. The single building is situated in Hidalgo County, Texas, zip code 78574. This turnkey investment is ready for immediate income generation.

Property profile

Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 2008
Total area 4,056 SF
Lot 0.51 ac (22,002 SF)
Zoning code RS
APN L1069-03-000-0077-00
UPID US82-0894442

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

6505 Lima Ln Mission, TX 78574-3662
Mission metro Census 24125 MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$315k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$315k

Owner & transaction history

since 2022
7 recorded transactions
2022
Price N/A
2019
Price N/A
2014
Price N/A
2014
Price N/A
2014
$150,000
2014
Price N/A
2007
Price N/A

Zoning & alternative use

RS · Mission, TX

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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