608 Mccoll RdEdinburg, TX 78539

Property Details for 608 Mccoll Rd

Year built

1976

Lot size

0.23 AC

Property size (Sq ft)

4,820 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

M4650-00-000-0015-00

APU

M465000000001500

Description

This exceptional six-unit apartment building, located at 608 N Mccoll Road, Edinburg, TX 78539, presents a compelling investment opportunity. The property, built in 1976, comprises two buildings situated on a 10,079.78 square foot lot. The unit mix consists of five two-bedroom, one-bathroom units and one one-bedroom, one-bathroom unit, offering a diverse range of living spaces. While the property shows its age, it maintains excellent structural integrity and is currently in good condition. The owner has undertaken minor improvements, and a significant opportunity exists to increase rental income to reflect current market rates. Its strategic location on a main road provides excellent visibility and accessibility. Furthermore, its proximity to the University of Texas Rio Grande Valley (UTRGV), shopping centers, and restaurants enhances its appeal to tenants. This property is priced at $495,000 and offers investors a solid foundation for substantial returns. The property's strong location and potential for rental growth make it an attractive investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $821,334

  6.5%

  $758,155

  7%

  $704,001

• Comparable approach

  Method

  Valuation

  Relative Method

  $644,234

  Geo Method

  $1,697,934

• Alternative Use

  Use

  Valuation

  Residential

  $758,155

  Hospitality

  $694,466

  Educational

  $577,787

  Medical

  $597,658

  Retail

  $898,780

Location Insight

City

Edinburg

County

Hidalgo

State

Texas

Latitude

26.3112

Longitude

-98.193

CBSA code

32580

CBSA name

MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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