700 Jackson Ave Mcallen, TX 78501-1127
- Assisted living facilities
- 4,835 SF
- 0.53 lot acres
Apr 21, 2020
Current Use by Public Records
- Biltmore Assisted Living / Assisted Living Facility
- Card Reading Lectura de Cartas McAllen / Psychic / Spiritist Center
- Jackson Square Apartments / Apartment Complex
Property Details for 700 Jackson Ave
- Year built
- 2000
- Lot size
- 0.53 lot acres
- Property size
- 4,835 SF
- Property type
- Assisted living facilities
- Property subtype
- Retirement homes
- APN
- B3055-00-000-0001-00
- APU
- B305500000000100
Description
This exceptional investment opportunity presents a 128-unit apartment building located at 700 Jackson Ave W, McAllen, Texas, 78501. Built in 1976, this two-story multifamily property boasts a compelling 6.70% capitalization rate and presents significant value-add potential. The property is situated in a high-demand submarket of McAllen, within Hidalgo County, known for its consistent rent growth. Classic unit interiors offer substantial room for upgrades, allowing for rent premiums of up to $225 per unit. This translates to immediate upside through natural rent growth and long-term appreciation. The McAllen and Edinburg markets are historically strong, providing a stable foundation for this investment. This property is part of a larger portfolio sale, offering investors the chance to acquire scale in a booming Texas market. The property's prime location and value-add potential make it an attractive investment for those seeking strong returns and long-term growth.
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
- -98.2142
- Latitude
- 26.1915
- CBSA code
- 32580
- CBSA name
- MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA
