905 Ln Pointe Ave Alton, TX 78573
- Small apartment buildings
- 4,032 SF
Current Use by Public Records
- Small apartment buildings
Property Details for 905 Ln Pointe Ave
- Year built
- 2022
- Property size
- 4,032 SF
- Property type
- Small apartment buildings
- APN
- S7657-00-000-0028-00
Description
This exceptional 2022-built, four-unit apartment building in Alton, Texas, presents a compelling investment opportunity. Situated on a spacious 12,144 sq ft lot within the gated Sunset Valley Subdivision, this property boasts a total of 4,032 square feet of net rentable space, divided into four three-bedroom units. Each unit features modern kitchens, in-unit washers and dryers, and modern fixtures. The all-brick exterior ensures durability and low maintenance. Currently operating at 75% occupancy, the property generates a strong NOI of $44,740, with a projected NOI of $49,684. The asking price is $499,900, representing a compelling $124,975 per unit and a current cap rate of 8.95%, projected to increase to 9.94%. The property's Class B designation reflects its excellent condition and modern amenities. The permitted zoning is multi-family, offering flexibility for future development. This stabilized investment offers a chance to build generational wealth in a growing Texas market. The property features two buildings, each one story, and includes two additional parking pads. The property's address is 905 W La Pointe Avenue, Mission, TX 78573. This is a rare opportunity to acquire a nearly new, well-maintained multifamily property in a desirable location.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Alton
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.3219822
- Latitude
- 26.2958915
