912 29Th StMission, TX 78501

Property Details for 912 29Th St

Year built

1981

Property type

Apartment buildings

Property subtype

Small apartment buildings

Description

This exceptional three-unit apartment building in Mission, Texas, presents a compelling investment opportunity. Located at 912 N 29th Street, McAllen, TX 78501, this property comprises a duplex and a separate single-family home, offering immediate income generation. The duplex features two 2-bedroom, 1-bathroom units, while the single-family home boasts three bedrooms and two bathrooms. Built in 1981, the property benefits from recent upgrades, including a roof and AC system replacement seven years ago and brand new water heaters in all three units. Currently generating $2250 in monthly rent, the property's rental income can be significantly increased to an estimated $2750 per month with strategic rent adjustments. Further renovations to the single-family home are projected to boost rental income to $1750, and the duplex units to $800 each, resulting in a potential total monthly rental income of $3250. The property's proximity to the STC Pecan campus adds significant long-term value, with the potential for future acquisition by the college at a price above market value. This property is priced at $285,000 and offers a strong return on investment with potential for substantial appreciation. The property is situated in Hidalgo County, Texas, and offers a rare opportunity for investors seeking immediate income and long-term growth potential.

Location Insight

City

Mission

County

Hidalgo

State

Texas

Latitude

26.2151

Longitude

-98.2517

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