1014 Starr St
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1014 Starr St
4 Unit Block of Flats £375,576 (£93,894/Unit) 7.58% Net Initial Yield Mercedes, TX 78570
Investment Highlights
- PRIME LOCATION RIGHT OFF THE HIGHWAY AND MINUTES AWAY FROM RIO GRANDE PREMIUM OUTLETS
- HIGH OCCUPANCY
- BUILDINGS COMPLETED OCTOBER 2023
Executive Summary
Fourplexes for sale in Mercedes, TX. Mercedes, TX is a perfect middle commute to the McAllen, TX or Brownsville, TX areas. Construction completed October 2023- January 2024. Prime Location: Seconds away from highway, minutes away from the Rio Grande Valley Premium Outlets, minutes away from schools. The Fourplexes are in a multifamily subdivision with all Fourplexes having a uniform facade. The fourplex has the front units being 2bedroom/2bath and back units being 3bedroom/2bath. Units have a modern open concept floorplan with wood like tile throughout (no carpet). Kitchen custom cabinets, large island with quartz countertops.Spacious bedrooms with large closets. Master bedroom has a bathroom with tiled shower with glass door and spacious closet.All units have their own private fenced backyard. The back units will have a grassed backyard and the front units will have a concrete side yard. Stainless steel refrigerators, stoves, microwaves included as well as washer and dryer. 8 Carport Designated Spaces per fourplex. Tenants pay their own utilities. Great Investment Opportunity, Immediate Cash Flow! Fully Leased!
There are 19 Fourplexes available for sale at $480,000 EACH fourplex (76 doors) . All Fourplexes are FULLY LEASED. Buildings can be sold as a bulk or individually.
Some Fourplexes have white cabinets and others have brown cabinets. Some finishes may vary* Furniture shown is for staging purposes only, furniture is not included, apartments are not furnished.
If you have any questions, please feel free to contact me!
LA is related to Seller. LA/Owner. Seller is a licensed real estate agent in Texas.
There are 19 Fourplexes available for sale at $480,000 EACH fourplex (76 doors) . All Fourplexes are FULLY LEASED. Buildings can be sold as a bulk or individually.
Some Fourplexes have white cabinets and others have brown cabinets. Some finishes may vary* Furniture shown is for staging purposes only, furniture is not included, apartments are not furnished.
If you have any questions, please feel free to contact me!
LA is related to Seller. LA/Owner. Seller is a licensed real estate agent in Texas.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£40,750
|
£10.06
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£40,750
|
£10.06
|
| Taxes |
£10,528
|
£2.60
|
| Operating Expenses |
£2,285
|
£0.56
|
| Total Expenses |
£12,813
|
£3.16
|
| Net Operating Income |
£27,937
|
£6.90
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £40,750 |
| Annual Per SF | £10.06 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £40,750 |
| Annual Per SF | £10.06 |
| Taxes | |
|---|---|
| Annual | £10,528 |
| Annual Per SF | £2.60 |
| Operating Expenses | |
|---|---|
| Annual | £2,285 |
| Annual Per SF | £0.56 |
| Total Expenses | |
|---|---|
| Annual | £12,813 |
| Annual Per SF | £3.16 |
| Net Operating Income | |
|---|---|
| Annual | £27,937 |
| Annual Per SF | £6.90 |
Property Facts
| Price | £375,576 | Apartment Style | Low Rise |
| Price Per Unit | £93,894 | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 4,050 SF |
| Net Initial Yield | 7.58% | Average Occupancy | 100% |
| No. Units | 4 | Number of Floors | 1 |
| Property Type | Residential | Year Built | 2023 |
| Property Subtype | Apartment | Parking Ratio | 1.98/1,000 SF |
| Price | £375,576 |
| Price Per Unit | £93,894 |
| Sale Type | Investment |
| Net Initial Yield | 7.58% |
| No. Units | 4 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.26 AC |
| Building Size | 4,050 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built | 2023 |
| Parking Ratio | 1.98/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Vaulted Ceiling
- High Speed Internet Access
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Wi-Fi
- Yard
- Dining Room
- Double Pane Windows
- Framed Mirrors
- Freezer
- Instant Hot Water
- Island Kitchen
- Lawn
- Patio
- Window Coverings
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+2 | 2 | £760.93 | 947 |
| 3+2 | 2 | £890.04 | 1,078 |
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zoning
| Zoning Code | Multi-Family (Multi-Family Subdivision) |
| Multi-Family (Multi-Family Subdivision) |
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Presented by
Daniela Perez
1014 Starr St
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