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685 Chapman St
Mercedes, TX 78570
Mercedes Palms Apartments · Multifamily Property For Sale
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52 Units
Investment Highlights
- - The roofs have been replaced within the last 3 years along with a majority of the windows
- - Mercedes is the premier retail hub of South Texas, as it is located at the center of international trade and commerce
- - New ownership, based upon area rent comps, can raise rents by $86 / unit
- - The Mercedes multifamily submarket has experienced 4.9% 12-month effective rent growth
Property Facts
| No. Units | 52 | Lot Size | 6.15 AC |
| Property Type | Multifamily | Building Size | 43,680 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1985 |
| Building Class | C | ||
| Zoning | Commercial | ||
| No. Units | 52 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 6.15 AC |
| Building Size | 43,680 SF |
| No. Stories | 1 |
| Year Built | 1985 |
| Zoning | Commercial |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 460 - 630 |
| 2+1 | 22 | - | 777 - 855 |
| 3+1 | 18 | - | 1,003 |
Property Taxes
| Parcel Number | M3577-00-000-0001-00 | Improvements Assessment | $1,689,977 |
| Land Assessment | $360,023 | Total Assessment | $2,050,000 |
Property Taxes
Parcel Number
M3577-00-000-0001-00
Land Assessment
$360,023
Improvements Assessment
$1,689,977
Total Assessment
$2,050,000
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