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21272 Ebony Rd
Harlingen, TX 78550
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Country Style Multifamily Living
- Cash flow positive business with 9 total units
- 8.34 Acres, so plenty of land around the buildings
Executive Summary
Fantastic opportunity for a cash flowing multifamily property located in Rio Hondo TX. This property has 5 income producing buildings-4 freestanding homes and 1 five-plex. The five-plex has two units that have been recently remodeled. The brown house was built in 1992 and has 1312 SF Living. The front house is a 3 bd/2 bth home built in 1980 with 1056 s.f. The middle house is a 3 bd/2 bth home with 1536 s.f., built in 1980. The back house is a 3 bd/1 bth home with 1073 s.f. built in 1970. The 5-plex on the property is 3,776 s.f. built in 1990 and is made up of three units down stairs & two units upstairs. Each Building has its own septic system.
Property Facts
| Price Per Unit | $71,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 8.34 AC |
| Cap Rate | 11.79% | Building Size | 8,753 SF |
| Gross Rent Multiplier | 9.23 | Average Occupancy | 78% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 1.6/1,000 SF |
| Apartment Style | Single-Family Home | Opportunity Zone |
Yes
|
| Zoning | Commercial - The improvements are zoned commercial but the land is zoned residential. | ||
| Price Per Unit | $71,875 |
| Sale Type | Investment |
| Cap Rate | 11.79% |
| Gross Rent Multiplier | 9.23 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 8.34 AC |
| Building Size | 8,753 SF |
| Average Occupancy | 78% |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.6/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Commercial - The improvements are zoned commercial but the land is zoned residential. |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Kitchen
- Tub/Shower
- Yard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 3 | $987.50 | 1,056 - 1,536 |
| 3+1 | 1 | $950.00 | 1,073 |
| 1+1 | 1 | $500.00 | - |
| 2+1 | 3 | $715.00 | - |
Property Taxes
| Parcel Number | 973710-0010-003000 | Improvements Assessment | $368,012 |
| Land Assessment | $129,989 | Total Assessment | $498,001 |
Property Taxes
Parcel Number
973710-0010-003000
Land Assessment
$129,989
Improvements Assessment
$368,012
Total Assessment
$498,001
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