For Sale
$450,000

112 6Th StSan Juan, TX 78589

High-yield Texas apartment building.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 10-unit apartment building in San Juan, Texas, boasting a strong 100% occupancy rate as of August 11, 2024. The property, located at 112 E 6th Street, comprises nine spacious one-bedroom, one-bathroom apartments and one two-bedroom, one-bathroom apartment, some partially furnished. Situated on a substantial 20,999.84 square foot lot, the single-story building totals 5,824 square feet and was constructed in 1970. The property benefits from a prime location, just one mile from Expressway 83/Highway 2 and the Basilica, offering convenient access to shopping, dining, and the new city offices, located just half a block away. The current Net Operating Income (NOI) stands at $50,000, yielding an impressive 11.11% cap rate. Pro-forma NOI is projected at $47,800, resulting in a 10.62% pro-forma cap rate. The asking price is $450,000, translating to $45,000 per unit and $77.27 per square foot. The property is zoned R-2. This multifamily investment offers significant potential for strong returns in a desirable Texas location. The property's current high occupancy rate and convenient location make it an attractive proposition for investors seeking a stable and profitable investment.

Highlights

  • $450,000 asking price for a 10-unit apartment building.
  • Class B, 5,824 square foot multifamily property with a $77.27 price per square foot.
  • 11.11% cap rate (10.62% pro-forma).
  • 100% occupancy as of August 11, 2024, generating $50,000 NOI ($47,800 pro-forma).
  • Located at 112 E 6th Street, San Juan, TX 78589, one mile from Expressway 83/Highway 2 and the Basilica.
  • Ten units total: nine 1-bedroom/1-bathroom and one 2-bedroom/1-bathroom apartment.

Property Details for 112 6Th St

Property type
Apartment buildings, Small apartment buildings
Square Feet
5,824 SF
Class
B
Year Built
1970
Buildings
10
Stories
1
Units
10

Location Insight

City
San Juan
County
Hidalgo
State
Texas
Latitude
26.1880035
Longitude
-98.1548315
112 6Th St, San Juan, Texas

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112 6Th St
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