Weslaco Apartments

2604 Bridge St,
Weslaco, TX 78596

 

$2,400,000
Offering Price
6.27
GRM
$36,923
Price Per Unit
65
Number of Units
9.79%
Cap Rate
1980
Year Built
$2,400,000
Offering Price
6.27
GRM
$36,923
Price Per Unit
65
Number of Units
9.79%
Cap Rate
1980
Year Built

Quick Investment Summary

  • 8%+ Cash on Cash Average
  • 19.69%+ Total Return
  • 3-5 years to 100% initial investment returned.
  • Value add with new roof, new paint, full interior unit remodels.

Why Weslaco?

  • The McAllen-Edinburg-Mission MSA is the fastest growing MSA in Texas and one of the fastest growing MSAs in the U.S., with a current population of over 774,000 making it the fifth most populated MSA in Texas. To date, the MSA has grown by more than 391,224 people since 1990, a 102% growth rate, or 5.1% annually. The focal point of Weslaco economic activity has shifted from agriculture to international trade, healthcare, retail and tourism since the ratification of the North American Free Trade Agreement in 1994.
  • It is located at the center of international trade and commerce. Catering to a consumer base of 10 million within a 200-mile radius, Weslaco receives over 7 million visitors annually. Serviced by 9 international bridges and 3 airports. Weslaco welcomes tourists from Northern Mexico and Midwestern States year-round. Weslaco is an ideal location for business which provides the benefit of a well-trained population of over 153,000 within a 15-mile radius and over 500,000 residents within a 30 miles radius. Employment in the MSA is forecasted to grow at an annual rate of approximately 3% over the next two years, a higher rate than the state average.
  • Weslaco sits within 90 minutes of six wildlife refuges, including the noteworthy Santa Ana National Wildlife Refuge, and close to destinations suitable for both sport fishing and game hunting. Its location also offers a convenient link to the popular Mexican port of call city of Progreso, which is lined with shops, an authentic local market, restaurants, and world-class beaches.
  • Rents have increased by an impressive 5.1% over the past year.
  • The market price, which is an estimated price of all properties in the submarket, has risen dramatically over that time period and now stands at about $76,000/unit Major business's such as SpaceX have been emerging in nearby MSA.
FOR MORE DETAILS CONTACT
Jordan Lee
(775) 830-8094
info@cashflowinginvestments.com