12% CAP | 9-Unit Multi-Family | 100% Leased 164 W Old Highway 83 9 Unit Apartment Building $299,000 ($33,222/Unit) 12.83% Cap Rate Rio Grande City, TX 78582

Exceptional multifamily investment opportunity in Rio Grande City, Texas, offering immediate in-place cash flow, stable occupancy, and future value-add potential. The asset consists of eight (8) apartment units and one (1) detached pier-and-beam single-family residence situated across Four building structures on approximately 0.50 acres.
The multifamily component features a diverse unit mix consisting of seven (7) 1-bedroom/1-bath units and one (1) 2-bedroom/1-bath unit, complemented by a separate 3-bedroom/1-bath single-family residence. The property is currently 100% occupied with established tenants, providing investors with a stabilized income stream and an opportunity to enhance performance through rental growth, operational efficiencies, and strategic capital improvements.
Seller-provided financials indicate an approximate 13% capitalization rate, offering an attractive going-in yield for investors seeking strong current returns and long-term appreciation potential. The property includes approximately 214 feet of frontage along Old US Hwy 83, providing excellent accessibility and visibility within the Rio Grande City market.
Located near the Rio Grande City Medical Corridor, UTRGV Starr County Campus, South Texas College, retail centers, restaurants, schools, and major employment centers, the property benefits from proximity to key regional demand drivers. This offering presents an opportunity to acquire a stabilized multifamily asset with current cash flow, operational upside, and long-term investment potential in South Texas.