Spanish Oaks Apartments 500 E Nopal St 24 Unit Apartment Building $1,950,000 ($81,250/Unit) 9.77% Cap Rate Uvalde, TX 78801

Located in the heart of Uvalde, Texas, Spanish Oaks Apartments presents a rare investment opportunity—a fully-leased, 24-unit complex positioned for both stability and growth.
Situated at 500 East Nopal Street, this well-maintained asset features all-masonry exteriors and durable standing seam metal roofs, designed for longevity and reduced maintenance costs over time.
Each of the 24 units offers a spacious two-bedroom, two-bathroom layout, complete with central heating and air conditioning. Assigned parking for residents and additional guest spaces ensure convenience, while on-site amenities such as a private swimming pool and community laundry facility add long-term value for tenants.
The complex is currently fully occupied, with the lower 12 units leasing at $650 per month and the upper 12 at $700—both notably below market rates, offering immediate upside potential through rental adjustments. Interior updates to some units could also present the opportunity for increased rents. One of the lower units is occupied by the on-site manager who receives a 50% rent discount as part of her compensation.
Spanish Oaks Apartments delivers solid construction, dependable cash flow, and room for value-add revenue growth—all in a desirable South Texas location.