4113 24Th LnMcAllen, TX 78504

Property Details for 4113 24Th Ln

Year built

2013

Lot size

0.32 AC

Property size (Sq ft)

7,534 SF

Zone code

RS

Property type

Apartment buildings

APN

T7350-00-000-0022-00

APU

T735000000002200

Description

This exceptional 8-unit apartment building presents a lucrative investment opportunity in the desirable McAllen, Texas market. Constructed in 2013, this single-building property boasts a total of 13,939 square feet situated on a 13,939.2 square foot lot. The property currently features four apartments available for rent, demonstrating strong rental demand. Two units command a monthly rent of $900, while two others, enhanced by balconies, rent for $950 per month. This translates to significant potential rental income. The property's address is 4113 N 24th Lane, McAllen, TX 78504, within Hidalgo County. The asking price for this turnkey investment is $1,200,000. This well-maintained property offers a compelling combination of established rental income and significant growth potential in a thriving Texas market. The property's location in McAllen provides easy access to local amenities and a strong tenant pool. This is an ideal opportunity for investors seeking a stable and profitable multifamily investment. The building's 2013 construction ensures relatively low maintenance costs and a long lifespan. This property is ready for immediate income generation and offers a solid foundation for long-term investment growth.

• CAP approach

  CAP return

  Valuation

  6%

  $1,283,803

  6.5%

  $1,185,049

  7%

  $1,100,403

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,006,983

  Geo Method

  $2,653,991

• Alternative Use

  Use

  Valuation

  Residential

  $1,185,049

  Hospitality

  $1,085,499

  Educational

  $903,122

  Medical

  $934,182

  Retail

  $1,404,857

Location Insight

City

Mcallen

County

Hidalgo

State

Texas

Latitude

26.2437

Longitude

-98.2409

CBSA code

32580

CBSA name

MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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