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164 W Old Highway 83
Rio Grande City, TX 78582

$299,000 USD

Apartments For Sale  •  3,898 SF

Property Details

  • Property Type Apartments
  • Total Building Size 4,437 SF
  • Lot Size 0.5 AC
  • Building Class C
  • Year Built 1995
20 Walk Score

Highlights

Income-Producing Multifamily Asset featuring eight apartment units and one detached pier-and-beam single-family residence
Strong In-Place Returns with seller-provided financials indicating an approximate 13% capitalization rate, offering attractive cash flow
Fully Occupied Property with established tenants, providing immediate income upon acquisition and minimizing lease-up risk.
Value-Add Opportunity with potential to increase returns through rental optimization, operational efficiencies, & future improvements
Flexible Unit Mix consisting of seven 1-bedroom/1-bath apartments, one 2-bedroom/1-bath apartment, and a separate 3-bedroom/1-bath single-family
Strategic Location along Old US Hwy 83 with approximately 214 feet of frontage, offering excellent accessibility

Amenities

  • 24 Hour Access
  • Washer/Dryer Hookup
  • Ceiling Fans
  • Tile Floors
  • Kitchen
  • Refrigerator
  • Range
  • Dining Room
  • Wet Bar
  • Individual Leases Available
Tony Garza 956-522-9548 Coldwell Banker Commercial Rio Grande Valley
Tony Garza 956-522-9548 Coldwell Banker Commercial Rio Grande Valley