207 Albatross AvePharr, TX 78577

This exceptional investment opportunity presents a fully leased, four-unit apartment building situated at 207 W Albatross Avenue, Pharr, Texas, 78577. The property, built in 2013, boasts a total of 3,744 square feet across two one-story buildings, situated on an 11,939.79 square foot lot. The property features a mix of two and three-bedroom units, each equipped with a refrigerator, stove, and washer/dryer connections. Additional amenities include spacious rooms, decorative ceilings, and patio areas. With eight parking spaces and a 100% occupancy rate as of July 8, 2024, this stabilized investment offers a current Net Operating Income (NOI) of $45,600, translating to a compelling 11.40% cap rate. The property is classified as a Class B multifamily building and is zoned for multifamily use. The asking price is $400,000, representing $100,000 per unit and $106.84 per square foot. A pro-forma NOI of $32,341 and a pro-forma cap rate of 8.09% are also available. The property is owned by a corporation and is not subject to a ground lease. This represents a strong addition to any investment portfolio, offering significant potential for future growth and return. The Hidalgo County location provides easy access to local amenities and transportation.