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Property Overview

Price/Rent PSF $ 1,000,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 20,130
Date Available 04/17/2019
Additional URL Link
Floors 2
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Description

Location
Situated a mile and a half South of the University of Texas - Rio Grande Valley, these 20 2/2s offer residents quick and easy access to everything that the city of Edinburg has to offer.

Sale
1611 Norma Ln consists of five buildings that collectively house a laundry room, a two-story office (that may be converted into additional apartments), and twenty, ± 985 sf 2 bedroom/2 bathroom apartments. The complex is adjacent to a city park and is surrounded by elementary, middle, and high schools. UTRGV is about a mile and a half north of the property, and grocery stores/other retail are nearby as well. The functional and spacious floor plans provide residents with a great place to live, work, and play. 2017 rents were ≈ 8% below market, and there is plenty of room to increase the bottom line by decreasing operating expenses.

Location

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