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6720 N 23rd Street, Mcallen, TX 78504

$1,800,000
: 16,068
SqFt

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List Price: $1,800,000
Status: ACTIVE
MLS#: 515820
Year Built: 1980
Living Area: 16,068
Lot Size: 22,952
Acres: 0.53
Subdivision: Redbud #2
MLS Area Major: Mcallen

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Property Description

Investment opportunity featuring a 16-unit multifamily asset with strong existing income and additional upside potential. The property consists of fifteen 2-bedroom, 2-bath units and one 1-bedroom, 1-bath unit. Six remodeled units lease for $985+ per month, nine units lease for $900+, and the 1-bedroom unit leases for $725. Reported gross rental income is $14,755 per month, or $177,060 annually, excluding laundromat revenue. Tenants pay their own electricity, while ownership covers water. Recent capital improvements include new asphalt, siding, roofs on both buildings, and fresh exterior paint, reducing near-term capital exposure. A newly remodeled on-site laundromat provides tenant convenience and an additional income stream. This income-producing asset offers immediate cash flow with further upside through continued interior renovations, rental growth, and ancillary income.

(512) 596-9111

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Additional Information

Amenities: Sidewalks, Street Lights
Interior Features: Ceiling Fan(s)
Exterior Features: None
Taxes: $24,200
Appliances: Electric Water Heater, Refrigerator, Stove/Range-Electric Coil
Heating: Central, Electric
Air Conditioning: Central Air, Electric
Stories: 2
Foundation: Slab
Parking Features: No Carport, No Garage, Other Garage or Carport
School District: McAllen ISD
Elementary School: Garza
Middle School: Fossum
High School: Rowe H.S.