Multi-Family•Low-Rise/Garden•For Sale

5J Apartments

1612 Orange Ave, Weslaco, Texas 78596

Sale Price $675,000
Zoning Commercial
Bldg Type Multi-Tenant
Year Built 1999
Stories 2
Cap Rate 7.48%
Vacancy 80%
Gross Bldg 12,900 SqFt
Land Area .78 Acres
Project Size 14
Net Op Inc $50,517
Market Rio Grande Valley
Sub-Market Weslaco
1612 Orange Avenue is a 14 unit apartment complex located in a quiet corner of South-East Weslaco. There are twelve 2 bedroom, 2 bathroom units that are approximately 950 sf each and rent for $650/month, one 2/2 that is ± 700 sf that rents for $630/month, and one studio apartment that is ± 700 sf that rents for $400/month. There is a laundry room onsite that utilizes leased equipment. After vacancy and credit losses, the complex earned $96,425 of gross income in 2017 and $90,513 in 2018. Nestled in a quiet subdivision of Weslaco, this 14 unit apartment complex is in excellent condition and offers steady income to investors.
  • 12 x 2/2 ± 950 sf, $650/month
  • 1 x 2/2 ± 700 sf, $630/month
  • 1 x 0/1 ± 700 sf, $400/month
  • Onsite laundry with leased equipment
  • Most apartments have new tile, refrigerators, and ovens
4/17/2019 2:45:59 PM 4/17/2019 2:45:59 PM

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