303 Ridge LnSan Juan, TX 78589

Property Details for 303 Ridge Ln

Year built

2012

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a four-unit apartment building located at 303 S Ridge Ln, San Juan, TX 78589, in Hidalgo County. Built in 2012, this single-story property sits on a spacious 11,464.99 square foot lot. The building features four units, offering a price per unit of $111,250. Two units boast recently painted interiors, complete with two bedrooms, two bathrooms, fully equipped kitchens, and in-unit washers and dryers, retaining their original finishes. The remaining two units are in their original condition, presenting a canvas for renovation and customization to increase rental income. A convenient carport provides parking for up to eight vehicles. The property's strategic location near schools, shopping centers, and major highways ensures high occupancy rates and ease of access for tenants. The current Net Operating Income (NOI) stands at $4,120, resulting in a 0.93% capitalization rate. This property is ideal for investors seeking a strong return on investment or for those interested in a house-hacking strategy. The asking price for this multifamily property is $445,000. This is a turnkey opportunity to acquire a well-located, income-generating asset in a thriving Texas market.

Location Insight

City

San Juan

County

Hidalgo

State

Texas

Latitude

26.227

Longitude

-98.1528

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