3027 E Mile 11

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3027 E Mile 11

Weslaco, TX 78599
Asking Price
$350K
Asset Type
Multifamily
Class
Class B

What's Special

3027 E Mile 11 is situated in the northern corridor of Weslaco, Texas, positioned within a developing residential and agricultural landscape. The property offers proximity to the Interstate 2/US Highway 83 interchange, facilitating regional connectivity across the Rio Grande Valley. Local amenities including H-E-B, various retail centers, and public schools are located within a three-mile radius. The neighborhood is characterized by a mix of single-family residences and vacant acreage, providing a quiet, perimeter-city environment while maintaining access to the primary commercial hubs of Weslaco and nearby Mercedes. This multifamily asset is suited for long-term residential rental use or workforce housing development. The location aligns with a tenant profile seeking suburban affordability and manageable commute times to employment centers in McAllen or Harlingen. Typical occupants likely include local service-sector employees, small families, or individuals transitioning from higher-density urban areas. Given the surrounding land use patterns, the site is well-positioned for traditional apartment dwellings or a multi-unit complex catering to the growing demand for housing in the mid-valley region.

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NOI
$80,000
Cap Rate
22.86%
DSCR
3.85
Strong
Cash-on-Cash
56.40%
Monthly Payment
$1,731.609
Annual Cash Flow
$59,220.692

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