7222 Mile 2Mercedes, TX 78570

Property Details for 7222 Mile 2

Year built

1987

Lot size

9.23 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity in Mercedes, Texas, presents a compelling chance to acquire a four-unit apartment building situated on a substantial 9.23-acre lot. The property boasts a strategic location directly on Mile 2 Road, less than a mile from Expressway 83, ensuring excellent accessibility and visibility. The complex comprises four separate buildings, three of which have been fully renovated and are currently generating rental income through existing leases. The property's significant acreage offers considerable potential for future development. The expansive land provides ample space to construct additional rental units, catering to the growing local demand for housing. This presents a unique opportunity to expand the existing rental portfolio and capitalize on the area's development potential. The existing buildings, combined with the vast undeveloped land, create a versatile investment, allowing for both immediate income generation and long-term growth through strategic expansion. The property's location near Expressway 83 further enhances its appeal, providing convenient access to major transportation routes. Built in 1987, this property offers a blend of established income and significant future development potential. This is a rare chance to acquire a multifamily property with substantial land in a rapidly growing area.

Location Insight

City

Mercedes

County

Hidalgo

State

Texas

Latitude

26.1444

Longitude

-97.8775

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