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1701 W McIntyre St 7 Unit Apartment Building $639,500 ($91,357/Unit) 7.49% Cap Rate Edinburg, TX 78541
INVESTMENT HIGHLIGHTS
- Accross the street from UTRGV and within 2 miles of Lowes, Wal Mart, Restaurants, Public Schools, City Park
- Owner has recently updated four of the units all within the last 4 years, five of the units have newer condenser units, complex has a 2 yr old roof
EXECUTIVE SUMMARY
Do not skip this Investment opportunity Located ONLY across from UTRGV and many of Edinburg favorite local restaurant's restaurants and entertainment venues. This complex boasts (7) mixed units with six of the units featuring 2/2 and #7 at the bottom level with a over 1700 square feet 3bed/2bath. Owner has recently updated four of the units all within the last 4 years, five of the units have newer condenser units, complex has a 2 yr old roof, covered parking in back of complex and exterior was painted approx 2 years ago. Most of the units are on (6) month leases and most of the tenants have been renting 2+years.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$73,200
|
$9.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$1,700
|
$0.21
|
| Effective Gross Income |
$71,500
|
$8.87
|
| Taxes |
$14,304
|
$1.77
|
| Operating Expenses |
$10,032
|
$1.24
|
| Total Expenses |
$24,336
|
$3.02
|
| Net Operating Income |
$47,164
|
$5.85
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $73,200 |
| Annual Per SF | $9.08 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $1,700 |
| Annual Per SF | $0.21 |
| Effective Gross Income | |
|---|---|
| Annual | $71,500 |
| Annual Per SF | $8.87 |
| Taxes | |
|---|---|
| Annual | $14,304 |
| Annual Per SF | $1.77 |
| Operating Expenses | |
|---|---|
| Annual | $10,032 |
| Annual Per SF | $1.24 |
| Total Expenses | |
|---|---|
| Annual | $24,336 |
| Annual Per SF | $3.02 |
| Net Operating Income | |
|---|---|
| Annual | $47,164 |
| Annual Per SF | $5.85 |
PROPERTY FACTS
| Price | $639,500 | Apartment Style | Low-Rise |
| Price Per Unit | $91,357 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 7.49% | Building Size | 8,064 SF |
| Gross Rent Multiplier | 9.22 | Average Occupancy | 90% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 1.49/1,000 SF |
| Price | $639,500 |
| Price Per Unit | $91,357 |
| Sale Type | Investment |
| Cap Rate | 7.49% |
| Gross Rent Multiplier | 9.22 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 8,064 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 1.49/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Tile Floors
- Kitchen
- Tub/Shower
- Patio
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 6 | $750.00 | 800 - 900 |
| 3+2 | 1 | $1,250 | 1,300 |
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1701 W McIntyre St
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