713 Toronto Ave, McAllen, TX 78503
- Prime McAllen Location
- Next to La Plaza Mall
- Owner Financing Available
- Continuous Renovations to the Property
- Opportunity to Raise Rents and Decrease Expenses
This 46 unit property sits on two separate parcels and could be split and sold as 18 units and 28 units. Over the last year, the owner has worked to increase rents by $5,000 per month. However, there is still room to increase rents. Currently the owner pays for water and garbage while tenants pay for electricity. The utility charges can be passed back to the tenants for an even stronger NOI. The owner is retiring and disposing of his multifamily assets (this is the last one in his portfolio). He is willing to negotiate attractive owner financing terms for the right buyer. All units are 1 bedroom/1 bathroom and the owner has been making continuous improvements to the property over the last couple years. Cap rates like this with flexible terms are hard to find. Make an offer today!