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8-Plex 1502 Diamond Ave 8 Unit Apartment Building $599,000 ($74,875/Unit) Penitas, TX 78576
Investment Highlights
- Well maintained 8-plex in the thriving area of Penitas, TX, with a proven rental history and steady income generation. A solid investment.
- Conveniently located near major roadways, shopping centers, and dining options.
- Brick construction with modern amenities including central air and energy-efficient windows.
- This 8-plex offers both a prime location and exceptional value. All units are currently leased.
- Located just north of U.S. 83 (I-2) with excellent regional connectivity.
Executive Summary
Incredible investment opportunity to own a fully occupied/rented 8-plex. Located North of U.S. 83 (Interstate 2), is a well maintained 8-Plex in the thriving area of Penitas, TX, with a proven rental history and steady income generation. This property features 7 spacious 2-bedroom/2 -bath units and 1, 3-bedroom /2 bath unit, which are all currently occupied (leased), ensuring immediate cash flow. Conveniently located near major roadways, shopping centers, and dining options, this 8-plex offers both a prime location and exceptional value. Whether you're looking to expand your portfolio or make a solid investment, this property is a growing and excellent location. Hurry and take advantage of this fantastic opportunity before it's gone!
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $599,000 | Building Class | C |
| Price Per Unit | $74,875 | Lot Size | 1.00 AC |
| Sale Type | Investment | Building Size | 10,164 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 2003 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RM | ||
| Price | $599,000 |
| Price Per Unit | $74,875 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 10,164 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2003 |
| Opportunity Zone |
Yes |
| Zoning | RM |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Tile Floors
- Refrigerator
- Range
- Double Pane Windows
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $1,100 | 2,000 |
| 2+2 | 7 | $825.00 | 1,000 |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | A4930-02-000-009A-00 | Total Assessment | $787,021 |
| Land Assessment | $87,548 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $699,473 | Tax Year | 2025 |
Property Taxes
Parcel Number
A4930-02-000-009A-00
Land Assessment
$87,548
Improvements Assessment
$699,473
Total Assessment
$787,021
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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