212 Alex AveLa Joya, TX 78560

For Sale
$1,200,000

8-Unit Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 8-unit apartment building, constructed in 2022, presents a compelling investment opportunity in the thriving La Joya, Texas market. Located at 212 Alex Ave, 78560, this Class A property boasts 9,642 square feet situated on a 0.42-acre lot. The building features two stories and offers a strong NOI of $80,808, translating to a 6.73% cap rate and a price per square foot of $124.46. Each of the eight units is priced at $150,000, with the entire property listed at $1,200,000. The property benefits from a high occupancy rate and stable income stream, thanks to its desirable location near major retailers and grocery stores, and convenient access to US Highway 83. Amenities include central air conditioning and in-unit washer/dryer connections. The property is offered fee simple and represents a stabilized investment with excellent potential for long-term growth in a rapidly expanding area of Hidalgo County. The fully covered parking area adds further value and convenience for residents. This is a turnkey opportunity for investors seeking a high-performing, low-maintenance multifamily asset in a dynamic market. The property's new construction and strong tenant base contribute to its exceptional value proposition.

Highlights

  • Stable and reliable cash flow with a 6.73% cap rate and $80,808 NOI.
  • High occupancy rate and stable tenant base.
  • Excellent location in a strong, growing La Joya, Texas submarket.
  • New construction (2022), 8-unit apartment building totaling 9,642 square feet.
  • Convenient location near major retailers, grocery stores, and US Highway 83.
  • Fully covered parking.

Property Details for 212 Alex Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
9,642 SF
Class
A
Year Built
2022
Buildings
1
Stories
2
Lot Size (sq. ft)
18,295 SF
Units
8

Location Insight

City
La Joya
County
Hidalgo
State
Texas
Latitude
26.2474302
Longitude
-98.4860043
212 Alex Ave, La Joya, Texas

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212 Alex Ave
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