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El Shaddai Apartments 5007 US Highway 83 32 Unit Apartment Building $1,650,000 ($51,563/Unit) 9.62% Cap Rate Rio Grande City, TX 78582
Investment Highlights
- New roof installed in 2021.
- Parking lot fully upgraded to concrete.
- Individual electric and water meters for all 32 units.
- 30 of 32 A/C units replaced in the last 3 years.
- Interior renovations (paint, flooring, and appliances) completed in 29 units.
Executive Summary
This 32-unit multi-family property, located on the north side of US Highway 83, presents an amazing opportunity to acquire a stabilized asset in a rapidly growing South Texas market.
The property consists of five buildings situated on approximately 1.72 acres. Recent major renovations include new roofs (2021), new A/C units (all but two replaced), a new concrete parking lot, and refurbished appliances in 29 of the 32 units.
The property consists of five buildings situated on approximately 1.72 acres. Recent major renovations include new roofs (2021), new A/C units (all but two replaced), a new concrete parking lot, and refurbished appliances in 29 of the 32 units.
Data Room Click Here to Access
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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 | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 | $1,650,000 | Building Class | C |
| Price Per Unit | $51,563 | Lot Size | 1.70 AC |
| Sale Type | Investment | Building Size | 26,770 SF |
| Cap Rate | 9.62% | Average Occupancy | 94% |
| No. Units | 32 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 2004/2020 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | B1 | ||
| Price | $1,650,000 |
| Price Per Unit | $51,563 |
| Sale Type | Investment |
| Cap Rate | 9.62% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.70 AC |
| Building Size | 26,770 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built/Renovated | 2004/2020 |
| Opportunity Zone |
Yes |
| Zoning | B1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
| 2+2 | 24 | - | - |
1 1
Property Taxes
| Parcel Number | 00179-08200-06000-000100 | Total Assessment | $1,094,940 (2024) |
| Land Assessment | $120,290 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $974,650 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
00179-08200-06000-000100
Land Assessment
$120,290 (2024)
Improvements Assessment
$974,650 (2024)
Total Assessment
$1,094,940 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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El Shaddai Apartments | 5007 US Highway 83
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