Vine & 32nd 8 'Plex

2201 N 32nd St McAllen, TX 78501

FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$389,750
Last Verified:
Apr 09, 2019

Highlights

  • ± 620sf/unit
  • 2 bedroom, 1 bath
  • Asking $550/month/unit - Higher than market rates
  • Corner of 32nd/Vine - Great location
  • Well-maintained and well-managed
  • New roof in 2013

Description

This well-maintained and well-managed 8 'plex sits on the desirable corner of 32nd St and Vine Ave in McAllen, TX. All of the units are ± 620 sf, 2 bedroom/1 bath, and feature tile flooring and a very functional floor plan. The apartments are consistently renting for $550/month, which is a full 10¢/sf higher than market. There is plenty of parking for residents, and the building's excellent visibility makes it effortless to find great tenants. Although 2018 NOI was relatively low, the bottom line for this property can easily be increased by reducing operating expenses.

Boxed in by Ware, Daffodil, 23rd, and Pecan, this apartment complex sits in a highly sought after neighborhood with easy access to a plethora of schools, parks, and retail.


Year Built: 1996
Building Size: 5546.0sq ft
Lot Size: 0.42 acres

Map of 2201 N 32nd St, McAllen, TX, 78501

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