Mixed Use Development

For Sale

Mixed-use development with excellent current returns and great opportunity for upside. 38 apartment units with a variety of floor plans and historical occupancy of 95% (only 2 vacant as of 11/01/2017). 4 units are 3 bedroom/2 baths leasing for $500-$600. 9 units are 2 bedroom/2 baths leasing for $550-$635. 19 units are 2 bedroom/1.5 baths leasing for $450-$550 and 6 units are 1 bedroom/1 bath plus loft leasing for $395-$445. Several units have been upgraded over the past few years with rental increases in progress. Over 33,000 SF of retail and office space, anchored by Dollar General with a triple net lease. Commercial units currently generating $7,900 in monthly lease income with 6 of 10 units leased and an additional $4k potential for vacant units.

Price:$1,835,000
Address:1101-1206 N. 7th
City:Harlingen
Year Built:1956-1995
Square Feet:66,095
Bedrooms:48 Units
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