1101 Mahala AveAlton, TX 78573
- Apartment buildings
- 3,482 SF
Property Details for 1101 Mahala Ave
- Year built
- 2022
- Property size (Sq ft)
- 3,482 SF
- Property type
- Apartment buildings
- Property subtype
- Small apartment buildings
Description
This exceptional 2022-built, two-building apartment complex in Alton, Texas, presents a compelling investment opportunity. The property boasts four units, each featuring modern kitchens and private patios, complete with appliances (refrigerator, stove/oven, washer, and dryer). Situated on a 10,146.86 sq ft lot, the 3,482 sq ft complex offers eight parking spaces and is located within a secure gated community. The property's current NOI is $33,615, with a pro-forma NOI of $39,135, yielding a 6.79% cap rate and a pro-forma cap rate of 7.91%. The asking price is $495,000, translating to $123,750 per unit and $142.16 per square foot. The property is classified as a Class B, stabilized investment, and is zoned for multi-family use. This turnkey investment is ideal for those seeking immediate cash flow and strong appreciation potential. The property's modern design and amenities, combined with its secure location, ensure high tenant occupancy and minimal vacancy. The individual ownership structure offers flexibility and control. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location. The property's APN is S7657-02-000-0088-00.
Location Insight
- City
- Alton
- County
- Hidalgo
- State
- Texas
- Latitude
- 26.295
- Longitude
- -98.3236
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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