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103 S 24th St, McAllen, TX 78501

103 S 24th St, McAllen, TX 78501

$201,000 Cash Deal Only
5 UNIT PROPERTY FOR SALE IN MCALLEN! ASKING $201K OBO

GREAT CAP RATE BETWEEN 12% & 17% DEPENDING WHETHER YOU MAKE UPDATES AND RAISE RENTS!

Property consists of 5 small, separate free standing rental units:
*Includes both lots, all properties

Unit #1: 1 Bedroom, 1 Bath - $450/month rent
Unit # 2: 2 Bedroom, 1 Bath $500/month rent
Unit #3: 3 Bedroom, 1 Bath $550/month rent (recent past, now boarded up)
Unit #4: 3 Bedroom, 1 Bath $500/month rent
Unit #5: 3 Bedroom, 1 Bath $500/month rent

     All tenants are on month to month leases.

     All units have metal roofs installed 8 years ago. Some newer windows, commodes and sinks in some of them as well. Hardwood floors in several. Window unit AC's and space heaters. One 3 bedroom unit is currently boarded up while owner was waiting to remodel. The other 4 are currently rented on month to month basis. All units have been converted electric water heaters and stoves.

*  Current Annual Operating Income: $30,600 (Definitely can be increased!)
Current Annual Taxes: $2628
Water paid for by property owner. Tenants pay all their own electric and each has a separate meter on their unit.

for more pics click below:
https://drive.google.com/drive/folders/1-izclwGfCh5lVhFY6hbYR1LZGedVDQ5l

Ricardo (956) 624-9945

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