901 W Sam Houston Blvd
Pharr, TX 78577
11 Acres with 6 fourplexes in Pharr, TX · Land For Sale
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11.00 AC
Investment Highlights
- Streets & utilities in place for continued multifamily development along with six four-plexes
- 2018 Net income from existing improvements close to $87,000 per year.
Property Facts
Description
901 W. Sam Houston Boulevard is +/- 11 acres of land and six (6) four-plexes located in Pharr, TX on Sam Houston Boulevard between Jackson Road and Cage Boulevard. The property was originally developed as an multifamily condominium development that was only partially developed. The six four-plexes on the property are currently grossing approximately $11,350/month and netting approximately $7,250/month or $87,000/year. The remaining land could be built out in a four-plex concept, or potentially a multi-story apartment complex type of project, senior living, or other housing project. The site is within a half mile of many national retailers including Lowes', Sam's, Wal-Mart, Top Golf, and many other smaller sized retailers and service businesses. Additionally this site is a near many medical related businesses, and the property could be a redevelopment project for additional medical condo related buildings/spaces potentially. This option would require a rezoning from the City of Pharr, but may be an option for a buyer to consider.
