Log In/Sign Up
Your email has been sent.
915 15th place
Edinburg, TX 78541
80Unit 2021| Below Replment Cost 15th Place · Multifamily Property For Sale
·
80 Units
Investment Highlights
- Below Replacement Cost Acquisition – Immediate basis advantage vs. new construction
- Lease-Up Opportunity – Current ~83% occupancy with path to stabilization
- Institutional Location – Walkable to Courthouse, minutes to UTRGV
- 2021 Construction – Modern asset with low near-term CAPEX exposure
- Mark-to-Market Rent Upside – Proven gap vs. submarket rents
- Operational Value-Add – RUBS + management efficiencies increase NOI
Executive Summary
This offering presents a rare opportunity to acquire a 2021-built, 80-unit multifamily asset at a basis below replacement cost in the rapidly growing Edinburg, Texas market.
The property combines modern construction, strong in-place income, and clear operational upside, making it well-positioned for investors seeking long-term durability with a path to stabilized yield.
Currently operating at approximately 83% occupancy, the asset offers immediate upside through lease-up and rent normalization, particularly in larger unit types where in-place rents trail market levels. Additional revenue growth can be achieved through RUBS implementation and operational efficiencies, without the need for heavy capital improvements.
Strategically located within walking distance to the Hidalgo County Courthouse and just minutes from the University of Texas Rio Grande Valley, the property benefits from consistent demand driven by government, education, and healthcare employment, creating a stable and resilient tenant base.
With minimal deferred maintenance due to its recent construction, investors can focus on income growth rather than capital expenditure, positioning the asset for long-term appreciation and improved cash flow upon stabilization.
The property combines modern construction, strong in-place income, and clear operational upside, making it well-positioned for investors seeking long-term durability with a path to stabilized yield.
Currently operating at approximately 83% occupancy, the asset offers immediate upside through lease-up and rent normalization, particularly in larger unit types where in-place rents trail market levels. Additional revenue growth can be achieved through RUBS implementation and operational efficiencies, without the need for heavy capital improvements.
Strategically located within walking distance to the Hidalgo County Courthouse and just minutes from the University of Texas Rio Grande Valley, the property benefits from consistent demand driven by government, education, and healthcare employment, creating a stable and resilient tenant base.
With minimal deferred maintenance due to its recent construction, investors can focus on income growth rather than capital expenditure, positioning the asset for long-term appreciation and improved cash flow upon stabilization.
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Microwave
- Washer/Dryer
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Yard
- Double Pane Windows
- Pantry
- Window Coverings
- Large Bedrooms
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Fitness Center
- Gated
Property Taxes
| Parcel Number | S2205-00-000-0001-00 | Improvements Assessment | $4,951,514 |
| Land Assessment | $665,652 | Total Assessment | $5,617,166 |
Property Taxes
Parcel Number
S2205-00-000-0001-00
Land Assessment
$665,652
Improvements Assessment
$4,951,514
Total Assessment
$5,617,166
1 of 19
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
