For Sale
$1,700,000

221 Mile 1 ¼ Dr Mission, TX 78574

20-Unit Apartment Complex, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional multifamily investment opportunity presents a 20-unit apartment complex located at 221 W Mile 1 ½ N Drive, Palmview, TX 78574, within Hidalgo County. The property, listed at $1,700,000, comprises three buildings situated on a generous 2.69-acre lot. Constructed in 1992, this well-maintained complex offers a strong rental income stream. Each of the twenty units features two bedrooms and one bathroom, providing comfortable and functional living spaces for tenants. Recent upgrades include brand-new appliances and faucets installed throughout all three buildings, enhancing the appeal and value of the property. The stylish tile flooring adds a touch of elegance to each unit, contributing to a modern and attractive living environment. This property represents a compelling investment opportunity in a thriving Texas community, offering significant potential for long-term growth and return. The property's size and location make it an attractive option for both seasoned investors and those seeking to expand their real estate portfolio. The substantial lot size also presents potential for future development or expansion, further enhancing the investment's long-term value. This is a turnkey opportunity to acquire a well-maintained, income-producing multifamily property in a desirable location.

Highlights

  • 20-unit multifamily property in Palmview, TX.
  • Listed at $1,700,000.
  • Three buildings on a 2.69-acre lot.
  • Built in 1992, well-maintained.
  • Each unit features two bedrooms and one bathroom.
  • Recent upgrades include new appliances and faucets.

Property Details for 221 Mile 1 ¼ Dr

Property type
Apartment buildings, Small apartment buildings
Year Built
1992
Buildings
3
Lot Size (sq. ft)
117,176 SF
Units
20

Location Insight

City
Mission
County
Hidalgo
State
Texas
Latitude
26.2514832
Longitude
-98.3652671

FAQs

What type of property is this?
Apartment building - 20-Unit Apartment Complex, Prime Location
Where is the apartment building located?
The property is located at 221 Mile 1 ¼ Dr Mission, TX.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 20-unit multifamily property in Palmview, TX.; Listed at $1,700,000.; Three buildings on a 2.69-acre lot.
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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221 Mile 1 ¼ Dr
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