300 Albatross AvePharr, TX 78577

Property Details for 300 Albatross Ave

Year built

2013

Property size (Sq ft)

3,888 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a fully leased, four-unit apartment building situated at 300 W Albatross Avenue, Pharr, Texas, 78577. The property, built in 2013, boasts a total of 3,888 square feet across two one-story buildings on an 11,914 square foot lot. The property features a mix of two and three-bedroom units, each equipped with a refrigerator, stove, and washer/dryer connections. Amenities include ample parking (8 spaces) and private patio areas. Currently operating at 100% occupancy (as of July 8, 2024), the property generates a Net Operating Income (NOI) of $30,633, representing a 7.66% capitalization rate. The pro-forma NOI is $29,493, with a pro-forma cap rate of 7.37%. The asking price is $400,000, translating to $100,000 per unit and $102.88 per square foot. The property is classified as a Class B multifamily investment, zoned for multifamily use, and is offered as a corporate ownership. This stabilized investment offers a strong return and potential for future growth in the thriving Pharr market. The Hidalgo County location provides easy access to local amenities and transportation. This is a turnkey investment ideal for both seasoned and new investors seeking a high-demand rental property.

Location Insight

City

Pharr

County

Hidalgo

State

Texas

Latitude

26.1325

Longitude

-98.1976

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