For Sale
$500,000

421 Mile 1 Mercedes, TX 78570

Four-unit apartment building, 1-acre lot, owner financing considered.

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a four-unit apartment building situated on a spacious one-acre lot in Mercedes, Texas. Constructed in 2022, the property offers significant potential for immediate income generation and future expansion. Currently configured as a four-unit complex, the property boasts a prime location just five minutes from the HEB grocery store and the heart of downtown Mercedes, ensuring convenient access to essential amenities and services. Its proximity to the expressway provides easy commuting for residents. The two-story building presents a unique opportunity for renovation and expansion. The seller possesses blueprints detailing plans to increase the unit count to a remarkable 22 units, showcasing the property's substantial growth potential. This presents a rare chance to acquire a multifamily property with significant upside. The seller is open to owner financing, making this an even more attractive proposition for discerning investors. The property's one-acre lot provides ample space for future development and expansion, further enhancing its long-term value. This is a turnkey investment ready for immediate income generation or substantial redevelopment. Don't miss this chance to secure a prime multifamily asset in a thriving Texas market.

Property Details for 421 Mile 1

Property type
Apartment buildings, Small apartment buildings
Year Built
2022
Buildings
1
Lot Size (sq. ft)
43,560 SF
Units
4

Location Insight

City
Mercedes
County
Hidalgo
State
Texas
Latitude
26.1567012
Longitude
-97.8940085

FAQs

What type of property is this?
Apartment building - Four-unit apartment building, 1-acre lot, owner financing considered.
Where is the apartment building located?
The property is located at 421 Mile 1 Mercedes, TX.
What is the asking price?
The asking price for this property is $500,000.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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421 Mile 1
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