2008 Miller AveDonna, TX 78537

Property Details for 2008 Miller Ave

Year built

1979

Property size (Sq ft)

2,650 SF

Property type

Apartment buildings

Property subtype

Small apartment buildings

Description

This 1-story, 2-unit apartment building presents a compelling investment opportunity in Donna, Texas. Built in 1979 and extensively renovated in 2023, the property boasts a total of 2,650 square feet situated on a spacious 18,295.2 square foot lot. Each of the two units features three bedrooms and two bathrooms, complete with kitchen appliances (refrigerator and stove/oven). Individual laundry connections and new water heaters are included in each unit. Tenants enjoy covered back porches. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $14,158 annually, with a pro-forma NOI of $16,558. The asking price is $220,000, translating to $110,000 per unit and a current cap rate of 6.44%, projected to reach 7.53%. The property is zoned for multi-family use and benefits from separate water and electricity meters for each unit. This stabilized investment offers a strong return and significant upside potential in the thriving South Texas market. The property's location in Donna, Hidalgo County, Texas (zip code 78537) provides easy access to local amenities and transportation. This is a turnkey investment ready for immediate income generation.

Location Insight

City

Donna

County

Hidalgo

State

Texas

Latitude

26.1681

Longitude

-98.0415

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