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    709 E Business 83

    Weslaco, TX 78596
    • $825,000
    • STATUS: Active
    • ON SITE: 27 days
    • MLS #: 357780
    $825,000
    • 0
      BEDS
    • 2.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 18,912
      SQFT
    • $44
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1985
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:
    School District:

    Description

    Situated on Business 83 in Weslaco (17,000 AADT), this 58-unit motel sits on 2.21 acres and is ripe for value-add repositioning. As it stands now, there are seven two-story buildings that are comprised of eight small motel rooms, four rooms on each floor (totals 56 0/1s, apx. 270 sf each). There is also one one-story building adjacent to Exp. 83 that has two 1/1s that are both equipped with full kitchens. Lastly, there is a large 2/2 home adjacent to Bus. 83, a portion of which is used as the check-in for motel guests. Although the motel operations are not profitable, it is highly likely that if the property were operated as a traditional apartment complex it would perform well financially. Small kitchenettes could be installed in the efficiencies which would require the least amount of rehab and net the most amount of units, or walls could be torn down and adjacent units merged which would increase the initial investment but would net higher rents on the larger floor plans.

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    © 2021 Greater McAllen Association of Realtors Multiple Listing Service.
    IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or The MBTeam. Data last updated: 2021-06-23T00:16:32.207.
    www.monicabenavidesteam.com/homes/117596993
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    709 E Business 83 Weslaco, TX 78596

    • Price: $825,000
    • Status: Active
    • MLS #: 357780
    0
    Beds
    0
    Baths
    0
    ½ Baths
    2.21
    Acres
    18,912
    SQFT
    $44
    $/SQFT
    1985
    Built
    Neighborhood:
    West Tract
    County:
    Hidalgo
    Area:
    Weslaco
    Elementary School:
    Roosevelt
    Middle School:
    Armando Chapa
    High School:
    Weslaco East H.S.
    School District:
    Weslaco ISD
    Property Description
    Situated on Business 83 in Weslaco (17,000 AADT), this 58-unit motel sits on 2.21 acres and is ripe for value-add repositioning. As it stands now, there are seven two-story buildings that are comprised of eight small motel rooms, four rooms on each floor (totals 56 0/1s, apx. 270 sf each). There is also one one-story building adjacent to Exp. 83 that has two 1/1s that are both equipped with full kitchens. Lastly, there is a large 2/2 home adjacent to Bus. 83, a portion of which is used as the check-in for motel guests. Although the motel operations are not profitable, it is highly likely that if the property were operated as a traditional apartment complex it would perform well financially. Small kitchenettes could be installed in the efficiencies which would require the least amount of rehab and net the most amount of units, or walls could be torn down and adjacent units merged which would increase the initial investment but would net higher rents on the larger floor plans.
    Exterior Features

    Carport Spaces 0 Carport YN No Construction Materials BrickWood Siding Covered Spaces 50 Exterior Features Mature TreesOtherWorkshop Fencing Privacy Foundation Details Slab Garage YN Yes Lot Features Irregular LotMature Trees Other Structures Laundry FacilityOfficeOutbuilding (Other)Storage Parking Features No CarportNo Garage Parking Total 50 Pool YN No Road Surface Type Paved Roof Composition ShingleFlat

    Interior Features

    Appliances Electric Water HeaterWater Heater (Other Location)No Conveying Appliances Cooling Window Unit(S) Cooling YN Yes Flooring CarpetHardwood Interior Features Other Laundry Features Laundry Area

    Property Features

    Association YN No Community Features None Green Energy Efficient None Maintenance Expense 0 Other Expense 0 Property Sub Type Apartment Complex Sewer City Sewer Tax Annual Amount 25541 Tax Year 2020 Water Source Public

    Listing by Zachary Sunderland of Kingside Realty.
    © 2021 Greater McAllen Association of Realtors Multiple Listing Service.
    IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or The MBTeam. Data last updated: 2021-06-23T00:16:32.207.
     
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